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$QIND notes a successful Q2 & strong start to Q3
Quote:@QualityIndCorp
$QIND Operating Company, Al Shola Gas, Receives Over $1 Million in New Orders Since The Start of July 2024 https://accesswire.com/891591/qind-operating-...-july-2024
$ILUS 11:10 AM · Jul 23, 2024
Quote:QIND Operating Company, Al Shola Gas, Receives Over $1 Million in New Orders Since The Start of July 2024
PRESS RELEASE Accesswire
Jul. 23, 2024, 10:45 AM
SAN FRANCISCO, CA / ACCESSWIRE / July 23, 2024 / Quality Industrial Corp. (OTC PINK:QIND) is an Industrial company servicing the Oil & Gas and Utility sectors. The company confirms that in the first three weeks of July 2024, its operating business, Al Shola Gas (ASG), which operates out of Dubai, United Arab Emirates, received over $1 million in sales orders.
ASG received orders for new installations of Central Gas Systems, bulk gas supply to current customer locations, and distribution of Liquefied Petroleum Gas (LPG) cylinders to both existing and new customers. The summary of orders received in the first three weeks of July, totaling $1,076,000, is as follows:
ASG secured six new orders for Central Gas System installations, amounting to a total of $513,000. Clients including Sobha Realty, Trends Electro-Mechanical Works LLC, Kitchen Park LLC, and Al Ishrak Contracting LLC have once again placed their trust in ASG to expertly design, engineer, install, and maintain their Central Gas Systems.
ASG also received orders for the bulk supply of over 250 Metric Tonnes (Mt) of LPG, totaling $427,000. The orders were placed by several customers, including WASL Properties, Q1 Malls, Dubai Sports City, Pavilion Foods, Earth Real Estate, and Aiko Mall.
Furthermore, ASG received LPG cylinder distribution orders amounting to $136,000. Orders were received from the likes of Dubai Holdings, Nakheel, Dubai Golf LLC, and Amma's Restaurant LLC.
"Following a successful second quarter, following which we anticipate filing our results on or before August 15th, we are pleased with our strong start to the third quarter. Recent orders from both our longstanding and new customers indicate the progress we are consistently making," said John-Paul Backwell, CEO of QIND. "In response to the increasing demand for bulk gas supply, we are proactively ordering two new bobtail trucks in the third quarter, followed by an additional two trucks in the fourth quarter. Our ongoing negotiations for several midstream and downstream gas system project bids in Sub-Saharan Africa and the Middle East highlight our determination to expand into new markets and foster substantial growth in 2025. Additionally, we remain committed to efficiently finalizing our previously announced acquisition transaction, which is poised to significantly bolster our growth trajectory."
