ILUS International Inc. (OTCMKTS:ILUS) is up 23% in a week. The M&A company has so far made four acquisitions this year, including the BCD Fire acquisition, which already has three contracts in Q3 2021 valued at around $1.5 million.
In addition, BCD fire has now received a $1 million deal for phase II of the Burj 2020 Tower project. Earlier, BCD Fire had received a contract to supply and install fire systems such as central battery systems, fire sprinklers, and fire alarm boards for Burj 2020 Tower located in Dubai.Once completed, Burj 2020 will be one of the tallest commercial towers globally at 2333 feet tall.
BCD Fire started work on Phase I of the project in Q3 2021, and the contract value for the first phase is around $1 million. Interestingly, the company has now received another contract for the next phase of the project of around $1 million. BCD Fire is hiring an additional 45 technicians to help complete the project and upcoming projects. ILUS is worth watching in the coming weeks.
Market Reaction:
On Tuesday, ILUS stock up 2.40% at $0.3931 with more than 14.82 million shares, compared to its average volume of 32.09 million shares. The stock has moved within a range of $0.3875 – 0.4137 after opening the trade at $0.3900.
