OTC:ILUS, ILUS International (Ilustrato Pictures International Inc): ILUS Acquisition, FireBug, Appoints India's Largest Firefighting Vehicle and Equipment Manufacturer as Its Exclusive Distributor and an OEM Partner for India
NEW YORK, NY, June 07, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire-- ILUS International Inc (OTC: ILUS) is an M&A company focused on acquiring and developing technology-based companies globally. Having already completed three acquisitions since January 2021, the company is also in the process of expanding its distribution networks and developing new partnerships for the increased uptake 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 maintains strong relationships with the government and private sector and holds numerous contracts for the ongoing supply of firefighting vehicles and equipment. An OEM Partnership Agreement has also been signed with Vijay which enables them to integrate components of FireBug’s core 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 an all-electric rapid response 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 towards electric vehicle solutions is taking place rapidly and the Vijay electric rapid response firefighting vehicle is already in high demand from the government, airports and manufacturing sectors in India.
Managing Director of Vijay Fire Vehicles, Rajesh Salot, said the following of the partnership: “Vijay Fire Vehicles are very happy to have an association with FireBug for their products in India. We are putting FireBug’s product specifications to a lot of customers in India.”
Vijay is listed as a recommended supplier to the Indian Government and is in the process of adding all FireBug products to the Indian government’s purchasing portal, which will enable all government authorities and municipalities to purchase FireBug products at the click of a button. India has over 3,700 municipal bodies which 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’s products have been undergoing rigorous testing and trials by various government departments in India, including the Mumbai Fire Service, which serves a population of over 20 million people in one of the world’s most congested and complex urban environments. With the products now approved and discussions underway regarding implementation, it is expected that the partnership with Vijay will deliver numerous government contracts for FireBug’s 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 has a proud history of being India’s largest firefighting vehicle and equipment manufacturer. The Vijay Group delivers a wide range of products and services, including firefighting vehicles, special vehicles, police vehicles, waste collection and sweeper vehicles, firefighting 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 across India, Asia and the Middle East.
FireBug was acquired by ILUS in January 2021. The company manufactures and supplies innovative solutions for Fire & Rescue Services and Original Equipment Manufacturers. FireBug’s solutions harness the power of its patented water mist technology which isa world first for the specialized firefighting equipment and vehicles which FireBug manufactures. The FireBug product range is extensive and includes firefighting and rescue vehicles from small to large, a range of customized lightweight fire vehicle bodies built to order, UTV firefighting vehicles including electric UTV vehicle solutions, MistMax firefighting skid units, floating pumps and strainers, BacPac portable water mist fire suppression kits, MistNozzle water mist firefighting nozzles and the Mongoose surface penetrating firefighting lance.
The global firefighting vehicle market is a growing market owing to acceptance of new and advanced technology, product innovation, and the use of advanced digital tools and modern electronics which will help to enhance the efficiency, quality, and capability of firefighting vehicles. As urbanization increases and digitization takes place simultaneously, there has been a corresponding increase in municipal budgets from governments to aid the improvement of fire and safety departments, and this is also fuelling the growth of the firefighting vehicle market. From 2019 to 2024, the global firefighting vehicle market is anticipated to register a CAGR of about 6.7% .
The global firefighting vehicle and equipment market is dominated by Asia-Pacific due to emerging countries like China, India and South Korea who have witnessed a stable growth in infrastructure coupled with the raised awareness of fire and life safety. The rise in awareness about fire and life safety in the region is boosting the demand for firefighting vehicles and equipment and this demand is expected to continue over the next decade.
ILUS Director, John-Paul Backwell, said, “We have been active in the Indian market for a number of years and made steady progress in the Indian market. Now, the signing of this exclusive agreement with Vijay and the associated OEM partnership represents a significant milestone in the growth path of FireBug and ILUS. Vijay are the biggest player in the emergency services sector in India and they are the company that every manufacturer wishes to partner with, so this is a significant achievement. In addition, with the Indian Government implementing major local reforms to drastically reduce pollution, the collaboration with Vijay on an electric fire vehicle solution for the Indian market is another exciting development in the ILUS roadmap.”
ILUS is continuing to work hard within each of its acquisitions to expand the international distribution networks for its technology. The company is also in the process of negotiating several acquisitions, including in the USA. The ILUS team is growing as additional experience and expertise is being added and more announcements will be made on this growth and the acquisitions in the coming days and weeks.
For further information on the ILUS group of companies, please see their respective communication channels.
Twitter : OTC_ILUS
Certain information set forth in this press release contains "forward-looking information", including "future-oriented 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 herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guaranteeing of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that 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 undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should 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 guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material 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 company, our services and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following U.S. social media channels: Twitter OTC_ILUS.
SD-WAN EXPO #TECHSUPERSHOW Exhibit Hall Open
VoIP & RTC Monitoring: Doing Less with More!