Quality Industrial Corp. is Acquiring the Majority Stake of Quality International Co Ltd FZC - Seite 2

The total price for acquisition of the majority stake in Quality International will be up-to $137,000,000 paid in six tranche payments with the final three tranche payments conditional upon EBITDA targets being met in 2023 and 2024. Further details on the signed Share Purchase Agreement can be found within the QIND's 8-K filing on 18 January 2023.

John-Paul Backwell, QIND Chief Executive Officer said: "We are extremely pleased to welcome all of Quality International's more than 1,000 employees to the ILUS and QIND family. Having worked closely with the Quality International management team and personally reviewed the impressive confirmed order books for 2023, I am confident that the company will exceed its growth targets. This is a powerful acquisition for QIND with further aligned acquisitions to be added in due course."

This Press Release does not constitute an offer of any securities for sale.

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