NEW YORK, NY, Sept. 26, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc (OTC: ILUS) is a Mergers and Acquisitions company focused on acquiring and growing public safety and industrial companies across the globe. Following decisive meetings with the Development Agency of Serbia and City of Čačak Municipality, the subsidies for the first ILUS investment project in Serbia have been secured and the mobilization plan finalized.
“Our city is proud to welcome ILUS International for a long-term partnership which is creating thousands of jobs over the next ten years and strengthening the economy in our region. We are pleased that such innovative products will be manufactured in our region by our local people and exported to all parts of the world,” said Mayor of Čačak, Milun Todorovic.
For its first investment project in Serbia, ILUS has secured upwards of $8 million in government subsidies for ILUS EV Technologies. A further five planned investment projects are included in the company’s approved Phase One business plan for the region, each resulting in their own substantial government subsidies.
As part of the planned Phase One rollout in Serbia, ILUS has secured a large site on the outskirts of Čačak and also has the option to secure manufacturing facilities in Kragujevac and Jagodina. The planned Phase Two project is considered by ILUS as a separate project entirely, involving the privatization of a large government site.
ILUS is now preparing for its machinery and equipment to arrive in Serbia. This will include setting up the production lines for E-Raptor commercial electric utility vehicle manufacturing and OEM manufacturing. Simultaneously, ILUS’ urban mining company, Replay Solutions, will be shipping its plant machinery to Serbia as part of another investment project which will be announced separately. This alone is a substantial undertaking as the list of heavy machinery includes a PCB (Printed Circuit Board) Crusher and Shredder, Electrostatic Separator, Airflow Separator, Pulse Dust Collector, Chemical Refining equipment and Copper Wire Recycling System. Serbia is also expected to be ILUS’ main production hub for vehicles and equipment outside of the United States. The planned investment projects are expected to boost the economy of the region and provide significant revenue for the ILUS subsidiaries, whilst creating employment for hundreds of Serbians over the next three years and thousands over the next five to ten years.
“We are pleased to confirm commencement of our first of several projects in Serbia, whereby we have secured extraordinary benefits to boost our global manufacturing capability. Indeed, further sites are being discussed with the Serbian government and huge contracts are being negotiated for our subsidiaries in Southern and Eastern Europe, such as the Serbian governments need to replace more than 300 firefighting vehicles so that they meet EURO 6 emissions regulations. Our mobilization in Serbia forms part of our greater conglomerate plan to control large scale manufacturing capability in the United States, Europe, and the Middle East,” said ILUS Managing Director, John-Paul Backwell.
The Serbian city of Čačak is widely regarded as a European innovation hub and was originally chosen by ILUS for its first phase of European production because of its support for manufacturing companies as well as its excellent geographic position with efficient connection to the rest of Europe. Serbia has an attractive automotive and industrial manufacturing industry with highly regarded free zones and government incentives. Many of the world’s largest vehicle brands and automotive industry suppliers have manufacturing facilities in Serbia. Serbia’s low construction, labour, and energy costs compared with other European countries, combined with its pan-European highway network, has led many global conglomerates to have major operations in the country.
“We have formed a favourable and long-term partnership with the Serbian government which gives us the large-scale manufacturing capability that we require for our existing operating companies and for our planned acquisitions which range across the emergency response, defense, and renewable energy sectors. This is only the first project with much larger deals on the horizon in the region. I am proud of what our team has achieved and what this means for the ILUS conglomerate we are building,” said ILUS CEO, Nick Link.
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Source: ILUS
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