OTC: ILUS, ILUS International (Ilustrato Pictures International Inc), Confirms its Investment Project and Manufacturing Facilities for ILUS EV Technologies in Čačak, Serbia
01 April 2022 - 12:31AM
InvestorsHub NewsWire
NEW YORK, NY -- March 31, 2022 -- InvestorsHub NewsWire -- ILUS
International Inc (OTC:
ILUS) remains focused on its M&A strategy of acquiring and
growing global technology companies. In addition to the completion
of 7 acquisitions in 14 months, the company is now proceeding with
its first investment project in Cacak, Serbia, which includes
the acquisition of manufacturing facilities for ILUS EV
Technologies. More facilities for other ILUS subsidiaries are to be
announced further down the line in 2022. Over the next 8 years,
this current investment project is expected to provide employment
to thousands of Serbians and generate several hundred million Euros
for the city of Cacak and ILUS EV Technologies. The
forward-thinking city of Cacak, which is undergoing a rapid
industrial expansion, aims to become Serbia’s leading producer of
renewable energy technologies, with Serbia aiming to become a
leading European manufacturer and global supplier of innovative
sustainable solutions.
ILUS is committed to investment in the city of Cacak and
Serbia. The city of Cacak is committed towards supporting the
growth of ILUS EV Technologies in the country. The investment
project forms part of the strategy implementation by Cacak’s
Mayor, Milun Todorovic, his administration, and the Serbian
Government, to create employment opportunities and strengthen the
local economy. Mayor Todorovic supports the ILUS EV Technologies
investment project in Cacak and is optimistic about the
benefits it will bring to the city.
“I am both excited and very proud of this investment project in
Cacak because it is creating thousands of jobs and growing our
local economy. We are pleased to partner with ILUS EV Technologies
in Serbia to create more innovative products and solutions that
will benefit our environment and showcase Serbia’s great capability
to the rest of Europe and the world,” said Mayor of
Cacak, Milun Todorovic.
In partnership with the city of Cacak and the Serbian
government, ILUS EV Technologies will begin manufacturing its
E-Raptor range of commercial electric utility vehicles (E-UTV’s) at
a large facility on the outskirts of Cacak city. The facility will
be home to the end-to-end manufacturing process of the complete
E-Raptor E-UTV range as well as component parts for the electric
vehicle industry. The E-Raptor range manufactured in Serbia will
consist of six vehicle types ranging from the entry level 4x2 L7e
right up to the top of the range 6x6. The range will also include
an innovative lightweight four-seater passenger transport
vehicle. By 2029, revenues for ILUS EV Technologies are
expected to reach hundreds of millions per year.
The city of Cacak was chosen by ILUS because of its support of
innovative technology manufacturing companies as well as its
excellent geographic position. The site’s proximity to both sea and
airports for European and global exports is a key factor as is its
location near the modern Corridor 11 (E-763) Pan-European highway
which efficiently connects Cacak to the rest of Europe. Cacak has a
century-old industrial tradition and has recently been investing in
several projects to become an innovation hub which creates
employment and stimulates the local economy. A recent example of a
similar investment project is the Cacak plant of German automotive
parts manufacturer, Vorwerk & Sohn Group, which manufactures
parts for the likes of Audi, BMW, Ford, and Volkswagen. Their
investment project is expected to create 1,000 jobs. After
receiving an investment of around €60 million, their 484,000 square
foot manufacturing facility was recently opened at a ceremony
attended by Serbia’s President, Aleksandar Vucic. The city of Cacak
is investing in many more similar projects.
Serbia has an attractive automotive manufacturing industry with
highly regarded free zones. The country is home to manufacturing
plants for Fiat, Mercedes, Peugeot, and Ford, as well as several
significant global automotive industry suppliers. Fiat currently
employs about 2,400 people at its factory in Kragujevac, Serbia.
Over 60 automotive companies from Europe, the US and Asia operate
in Serbia, creating over 30,000 jobs. Serbia’s low construction,
labour, and energy costs compared with other European countries,
combined with its pan-European highway network have also played a
key role in companies like Continental, Michelin, Siemens and even
Deloitte setting up major operations in the country. Serbia’s
government continues to make concerted efforts under its current
president, Aleksandar Vucic, to strongly incentivise foreign
investment. The government subsidies are particularly generous to
capital intensive investments, more so for companies located
outside of the country’s capital, Belgrade.
“We are excited about the commencement of this partnership with
the Serbian government and the forward-thinking city of Cacak. We
are working closely with the city who are focused on creating
employment and growing their local economy through investment in
the large-scale manufacturing capability of innovative technology
such as ours. With the final administrative procedures being
completed, we are pleased to confirm the manufacturing facilities
for ILUS EV Technologies in Cacak, Serbia. Over the last few weeks,
the scope of this investment project has grown exponentially more
than we had originally anticipated. This is ultimately to the
greater benefit of ILUS and its Shareholders, therefore we will
release further information on the site and deal structure once the
final administration is completed,” said ILUS CEO, Nick
Link.
For further information on the companies please see the ILUS
communication channels.
Website:https://ilus-group.com
Twitter: OTC_ILUS
Email:IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
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and global growth; (v) sources and availability of third-party
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