ILUS, ILUS International (Ilustrato Pictures International Inc), provides update on current European acquisition which it is in the process of finalizing
NEW YORK, NY, September 17, 2021 (GLOBE NEWSWIRE) – via NewMediaWire – ILUS International Inc (OTC: ILUS), ILUS is a mergers and acquisitions company focused on the acquisition and development of technology companies on a global scale. The company has already made 3 acquisitions in 2021 and is currently in the process of making several acquisitions in the United States and Europe. After recently providing an update on its strategy and acquisition progress in the United States (September 13, 2021), the company is now providing as many update as it is authorized to do at this point on the big current European acquisition she is working on.
For the past six months, ILUS has been working on the acquisition of a large-scale manufacturing plant. ILUS Managing Director John-Paul Backwell announced in a recent presentation that the company is now in the final stages of acquiring the manufacturing facility. ILUS can now confirm that this is a huge partial privatization deal that is being carried out in partnership with the government of the country. As part of the acquisition of the manufacturing plant, ILUS is negotiating a very important government contract for the manufacture of a new range of firefighting vehicles meeting Euro 6 exhaust emission standards over a period of 5 years. The acquisition of the manufacturing plant and related manufacturing contract involves complex political contracts and legal advice that the ILUS team is currently working on. In addition to government contracts, the huge manufacturing facility that employs many people will also be used for the large-scale manufacturing of ILUS firefighting equipment and vehicles and the range of commercial electric utility vehicles from ILUS, for worldwide distribution.
ILUS CEO Nick Link commented, “We wanted to provide an update on this acquisition as there have been many questions about it recently. Although there have been delays in concluding this deal due to the European holiday period during August and early September, we have now regained momentum and are working to complete the agreement with the highest levels of government in the region. There is no doubt that this is an exciting acquisition for us and for our shareholders. Unfortunately, we are not allowed to share some of the numbers and details of this deal at this time, but we look forward to announcing more information about this deal and its astronomical numbers soon. “
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