Welcome to our dedicated page for QUALITY INDL news (Ticker: QIND), a resource for investors and traders seeking the latest updates and insights on QUALITY INDL stock.
Quality Industrial Corp. (QIND) is an industrial and energy-focused company whose news flow centers on its liquefied petroleum gas (LPG) operations and corporate transactions. Through its operating subsidiary Al Shola Gas, a United Arab Emirates headquartered engineering and distribution company in the gas sector, QIND reports on contracts for centralized gas pipeline systems, LPG cylinder distribution, and bulk LPG supply to commercial, residential, and industrial clients.
News updates often highlight financial results, including revenue and net income contributions from Al Shola Gas, as well as order activity for central gas system installations, bulk LPG deliveries, and LPG cylinder distribution. These releases provide insight into demand trends from customers such as commercial buildings, mixed-use developments, shopping complexes, food courts, heavy industries, labor accommodations, catering units, commercial kitchens, and restaurants across the United Arab Emirates.
QIND’s news feed also covers corporate and capital markets developments. Examples include the acquisition of a controlling interest in Al Shola Gas, a binding term sheet with Actelis Networks, Inc. for a potential majority stake in QIND, and a Stock Purchase Agreement with Fusion Fuel Green PLC that, if completed, would result in a change of control. The company has additionally reported on registration statements and plans related to potential exchange listings and public offerings.
Investors and followers of QIND’s OTC-listed stock can use this news page to review company-issued updates on operational performance, contract wins, strategic transactions, auditor changes, and shareholder communications. Regularly checking this feed helps track how QIND’s LPG-focused industrial operations and corporate initiatives evolve over time based on its own public disclosures.
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Quality Industrial Corp. (OTC:QIND), a mergers and acquisitions company focusing on the Industrial and Oil and Gas sectors, has entered into an advisory agreement with Exchange Listing, LLC to facilitate its listing on the NYSE American. The collaboration aims to expedite the listing process, with an application expected to be submitted soon, targeting completion within summer 2023. CEO John-Paul Backwell highlighted the rapid progress made with Exchange Listing, which will manage the NYSE application process and assist with SEC filings. The advisory firm's experienced team, led by CEO Peter Goldstein, boasts a strong track record in public offerings and uplistings. This partnership is anticipated to enhance capital access, governance, and liquidity for QIND, ultimately benefiting shareholders.
Quality Industrial Corp. (OTC PINK:QIND) filed its 2022 Annual Report with the SEC, detailing significant financials including revenue of $65.6M and net profit of $6.8M for 2022. The report outlined a 2023 forecast projecting revenue over $140M and net profit exceeding $20M. Following a change in ownership in May 2022, the company is focused on enhancing acquisitions in the Industrial, Oil & Gas, and Utility sectors. Chief Executive Officer John-Paul Backwell highlighted the strength of their performance and commitment to achieve set objectives for 2023.
Quality Industrial Corp. (QIND) announced its acquisition of 52% of Quality International Co Ltd FZC for up to $137 million, to be paid in six tranches linked to EBITDA targets in 2023 and 2024. Quality International, located in the UAE, boasts over $100 million in annual revenue and a current order book exceeding $150 million, with a project pipeline of over $2 billion. The acquisition aims to enhance QIND's market position in the industrial and oil sectors, leveraging Quality International’s extensive manufacturing capabilities and client base, including major firms like BP and Chevron.
Quality Industrial Corp. (OTC PINK: QIND) announced the appointment of John-Paul Backwell as its new CEO, effective October 21, 2022. Backwell, who previously served as Chief Commercial Officer, is set to lead the company through a critical phase of acquisitions. The firm plans to hire a permanent industry-specific CEO early next year. QIND is focused on significant acquisitions and aims to move off the OTC market, targeting over $100 million in annual revenue, moving towards billions by 2025. This restructuring is seen as vital for optimizing growth and managing upcoming deals.