OTC: ILUS, ILUS International (Ilustrato Pictures International Inc): Acquisition of ILUS, FireBug, Appoints India’s Largest Manufacturer of Fire Fighting Vehicles and Equipment as Exclusive Distributor and OEM Partner for ‘India
NEW YORK, NY, June 07, 2021 (GLOBE NEWSWIRE) – via NewMediaWire– ILUS International Inc (OTC: ILUS) is a mergers and acquisitions company focused on acquiring and developing technology companies on a global scale. Having already made three acquisitions since January 2021, the company is also in the process of expanding its distribution networks and developing new partnerships for the increased adoption of its technology.
FireBug’s exclusive distribution agreement with Vijay Fire Vehicles (Vijay) is for the resale of all FireBug technology in India, where Vijay already has strong relationships with government and the private sector and has numerous contracts for the continued supply of fire fighting vehicles and equipment. An OEM partnership agreement has also been signed with Vijay, which allows them to integrate components of FireBug’s patented water mist technology into their own solutions for large projects and high volume orders.
FireBug and Vijay are also collaborating on the development of a fast response all-electric firefighting vehicle for the Indian market. This vehicle is based on ILUS ‘Eraptor electric utility vehicle platform. With pollution in India being a major concern for the Indian government, the shift to electric vehicle solutions is happening quickly and the Vijay Rapid Response Electric Fire Fighting Vehicle is already in high demand by government, airports and industries. manufacturers in India.
Vijay Fire Vehicles General Manager Rajesh Salot said the following about the partnership: “Vijay Fire Vehicles is very pleased to partner with FireBug for its products in India. We are submitting FireBug product specification to many customers in India.
Vijay is listed as Government of India Recommended Supplier and is in the process of adding all FireBug products to Government of India purchasing portal, which will allow all government authorities and municipalities to purchase FireBug products with one click. India has more than 3,700 municipal bodies that are difficult for international manufacturers to infiltrate without a prominent partner and without being listed on the Indian government’s supplier portal.
In partnership with Vijay, FireBug products have undergone rigorous testing and testing by various government departments in India, including the Mumbai Fire Department, which serves a population of over 20 million people in the world. one of the most congested and complex urban environments in the world. With the products now approved and the implementation discussions underway, it is expected that the partnership with Vijay will deliver numerous government contracts for FireBug solutions.
Vijay Fire Vehicles has been operating in the fire industry in India for over 60 years. The company is part of the larger Vijay group of companies and is proud to be the largest manufacturer of fire fighting vehicles and equipment in India. The Vijay Group offers a wide range of products and services, including fire fighting vehicles, special vehicles, police vehicles, waste collection and cleaning vehicles, fire fighting equipment. , security systems, medical equipment, turnkey industrial and commercial fire safety projects and building management services. Vijay has successfully delivered thousands of vehicle and equipment solutions and executed over 3,500 turnkey projects in India, Asia and the Middle East.
FireBug was acquired by ILUS in January 2021. The company manufactures and provides innovative solutions for fire and rescue services and original equipment manufacturers. FireBug’s solutions harness the power of its patented water mist technology, a world first for specialized firefighting equipment and vehicles manufactured by FireBug. The FireBug product line is extensive and includes small to large size firefighting and rescue vehicles, a line of custom built light firefighter vehicle bodies, UTV firefighting vehicles, including electric vehicle UTV solutions, MistMax fire fighting units, floating pumps and strainers, portable BacPac water mist fire extinguishing kits, fire fighting nozzles by MistNozzle water mist and Mongoose surface penetrating fire hose.
The global fire fighting vehicles market is a growing market owing to the acceptance of new and advanced technology, product innovation and the use of advanced digital tools and modern electronics that will help improve the efficiency, quality and capability of fire fighting vehicles. As urbanization increases and digitization takes place simultaneously, there has been a corresponding increase in municipal government budgets to help improve fire and security services, which is also fueling the growth of the market. fire fighting vehicles. From 2019 to 2024, the global fire fighting vehicles market is expected to register a CAGR of around 6.7%.
The global market for firefighting vehicles and equipment is dominated by Asia-Pacific due to emerging countries like China, India and South Korea which have experienced stable infrastructure growth coupled with an outlet increased awareness of fires and personal safety. Growing awareness of fires and human safety in the region is driving the demand for firefighting vehicles and equipment and this demand is expected to continue over the next decade.
As India’s population grows exponentially and urbanization continues to increase, the resulting spike in construction and construction activity has led the Indian government to enforce strict fire safety regulations in many areas. multiple sectors, including residential, commercial, airports and industries. This is rapidly increasing the demand for fire fighting vehicles and equipment in India.
ILUS Director John-Paul Backwell said: “We have been active in the Indian market for several years and have made steady progress in the Indian market. Today, the signing of this exclusive agreement with Vijay and the associated OEM partnership represents an important step in the growth trajectory of FireBug and ILUS. Vijay is the biggest player in the emergency services industry in India and it is the company that every manufacturer wants to partner with, so this is a significant achievement. Additionally, with the implementation by the Indian government of major local reforms to dramatically reduce pollution, the collaboration with Vijay on an electric fire vehicle solution for the Indian market is another exciting development in the roadmap of India. ‘ILUS.
ILUS continues to work hard within each of its acquisitions to expand the international distribution networks of its technology. The company is also in the process of negotiating several acquisitions, notably in the United States. The ILUS team is growing as more experience and expertise is added and more announcements will be made on this growth and acquisitions in the days and weeks to come.
For more information on the ILUS group of companies, please see their respective communication channels.
Certain information contained in this press release contains “forward-looking information”, including “forward-looking financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained in this document constitutes forward-looking statements and includes, but is not limited to, (i) the projected financial performance of the Company; (ii) the realization and use of the proceeds from the sale of shares offered hereunder; (iii) the expected development of the Company’s activities, projects and joint ventures; (iv) execution of the Company’s vision and growth strategy, including with respect to future M&A activities and global growth; (v) the sources and availability of third party funding for the Company’s projects; (vi) the completion of the Company’s projects that are currently underway, under development or otherwise under consideration; (vi) the renewal of customer, supplier and other significant Company agreements; and (vii) future liquidity, working capital and equity needs. Forward-looking statements are provided to enable potential investors to understand management’s beliefs and opinions regarding the future so that they can use those beliefs and opinions as a factor in valuing an investment. These statements are not guarantees of future performance and should not be relied on unduly. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results for future periods to differ materially from any projection of future performance or results expressed or implied by such statements. prospective. Although the forward-looking statements contained in this presentation are based on what the management of the Company considers to be reasonable assumptions, there can be no assurance that the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated. . in such statements. The Company assumes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission (“SEC”) has provided advice to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we advertise important financial information on our corporate website, www.ilus-group.com, in addition to SEC filings, press releases, public conference calls and webcasts. We use these channels as well as social media to communicate with the public about our business, services and other issues. The information we post on social media may be considered important information. Therefore, in light of SEC guidelines, we encourage investors, media and others interested in our company to review the information we post on the following US social networks: Twitter OTC_ILUS.
Via GlobeNewswire RSS feed https://ift.tt/3jYjx2z