ILUS International Inc. (OTCMKTS:ILUS) is moving in a range after announcing the signing of two letters of intent to acquire two companies in the US that it is in the final stages of completing Due Diligence. Already, the company has acquired three companies this year. Its current acquisition, BCD Fires, is an installer and supplier of life safety equipment and fixed fires systems. In addition, ILUS is evaluating the possibility of fixed fire systems in the US.
Recently the company appointed Pawel Zbrozek as its Fixed Fire Systems Senior Product Manager. Pawel is an experienced R&D engineer with over 20 years of experience in fixed fire systems, including gas, condensed aerosol water mists systems.
He will be responsible for finalizing testing and approval of the company’s battery Compartment Suppression and Water-Mist Kitchen Fire Suppression systems. Pawel will equally oversee the current development of ILUS’ fixed fire systems. Besides the battery fire and Kitchen fire suppression systems, the company is also creating water-mist systems for engine compartments, transformers, trains, and buses. So, ILUS is a stock worth watching.
Market Reaction:
On Wednesday, ILUS stock jumped 4.21% at $0.0470 with more than 8.14 million shares, compared to its average volume of 13.46 million shares. The stock has moved within a range of $0.0460 – 0.0500 after opening the trade at $0.0470.
