Yunhong CTI
Ltd.
Announces
Production Capacity Expansion at
its Lake Barrington,
Illinois
Facility
to Meet Increased Customer Demand
Additional Equipment
Expected to
Increase Company's
Foil Novelty
Balloon Output
by
14%
Annually Starting in Q4 2020
LAKE BARRINGTON, IL,
November
5,
2020 -- InvestorsHub NewsWire -- Yunhong
CTI Ltd. (Nasdaq:
CTIB)
("Yunhong
CTI"
or the "Company"), a leading manufacturer of custom film products,
foil and latex novelty balloons, and flexible packaging
products,
announced
that
due to increased customer demand
it has
installed
additional production equipment
at its Lake Barrington, Illinois, facility
that
is expected to increase
the company's
annual
North American
production capacity
of foil novelty balloons
by more than
14%.
Lake
Barrington has been a key facility for Yunhong
CTI's U.S. product
manufacturing for most of the company's history.
The Company has added the
additional production
equipment to
meet growing
market
demand for
its
foil novelty balloons and to serve existing customers.
"With
the first of two new production machines being fully operational,
we have taken a
major
step forward
in meeting
our growing customer demand.
This machine is a great addition, as it integrates modifications to
increase our quality output which will allow us to continue to
successfully service our customer base.,"
said
Jana M. Schwan, Chief Operating Officer
of
Yunhong CTI.
Lake
Barrington was selected as the site of the expansion due to a
combination of efficiency and cost-effectiveness, supported by the
availability of existing high-quality manufacturing space and the
strong pool of local talent. Installation
of the equipment
has been completed.
About
Yunhong CTI Ltd.
Yunhong
CTI
Ltd.
is one of
the leading manufacturers and marketers of foil balloons
and
produces laminated and printed films for commercial uses.
Yunhong
CTI also distributes
Candy Blossoms and other gift items and
markets
its products throughout the United States and in several other
countries.
For more information about our business, visit our corporate
website at www.ctiindustries.com.
Forward
Looking Statements
Statements made in
this release that are not historical facts are "forward-looking"
statements (within the meaning of Section 21E of the Securities
Exchange Act of 1934) that involve risks and uncertainties and are
subject to change at any time. These "forward-looking" statements
may include, but are not limited to, statements containing words
such as "may," "should," "could," "would," "expect," "plan,"
"goal," "anticipate," "believe," "estimate," "predict,"
"potential," "continue," or similar expressions. We have based
these forward-looking statements on our current expectations and
projections about future results. Although we believe that our
opinions and expectations
reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements, and our actual results may differ substantially from
statements made herein. We cannot anticipate the duration of
increased tariffs between the United States and other countries,
particularly China. We do not know whether we will be successful in
passing such additional costs through to customers.
The
COVID-19 pandemic has had a negative impact on our operations, and
we do not yet know the depth or duration of that
disruption. Our future plans
anticipate the successful completion of the financing described
above. Any failure to do so would have a negative impact on our
financial condition. More information on factors that could affect
CTI's business and financial results are included in its public
filings made with the Securities and Exchange Commission, including
its Annual Report on Form 10-K and Quarterly Reports on Form
10-Q.
Investor
Relations Contact:
TraDigital IR
Kevin
McGrath
+1-646-418-7002
kevin@tradigitalir.com
MJ
Clyburn
+1-917-327-6847
clyburn@tradigitalir.com