Yunhong CTI Ltd. Provides Update on Yunhong Biotechnology, Inc.
Bringing patented advanced materials to the US to enhance environmental sustainability
LAKE BARRINGTON, IL / ACCESSWIRE / December 1, 2022 / 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, today announced that Yunhong Biotechnology, Inc. ("YB"), a member of the Yunhong Group family of companies, established to bring to the U.S. market its advanced materials for a compostable alternative to many of the materials used and disposed of in landfills, recently hosted world renowned investor, Mr. James (Jim) Rogers Jr., an American investor and financial commentator and co-founder of the Quantum Fund and Soros Fund Management. Mr. Rogers, speaking at the Hubei Yunhong Comprehensive Health Industrial Park, shared his view on the state of the global economy, the challenges enterprises face in the current environment, and the growing importance of investment in emerging industries focused on advancing a low-carbon economy.
During the discussion, Mr. Rogers commented on the goals of carbon neutrality forcing countries to accelerate economic transformation. The utilization and development of clean energy has also created major opportunities, and the market for biodegradable materials has broad prospects. Mr. Rogers further remarked that he expected significant growth in the global number of enterprises offering new forms of degradable products and that, at present, the market is highly fragmented.
Mr. Li Yubao, Chairman of both the Yunhong China Group and Yunhong CTI, stated, "With the growing awareness by both companies and consumers alike for improving environmental protection, governments around the world are paying more attention to fully degradable materials. Based on years of R&D experience, Yunhong Biotechnology is developing a series of biodegradable material products which can enable the realization of our common vision. Manufacturers can take up the challenge to contribute to a circular economy by introducing compostable alternatives to single use plastic packaging while simultaneously benefitting from the recognition that sustainable packaging can be a differentiator on the store shelf, leading to increase sales and stronger consumer loyalty."
According to a Grandview Research report, (https://www.grandviewresearch.com/industry-analysis/biodegradable-plastics-market) "the global biodegradable plastic market size was estimated at USD 4.1 billion in 2021. It is expected to expand at a compound annual growth rate (CAGR) of 9.7% during the forecast period." Compostable products are those products which can biodegrade and disintegrate into natural elements such as biomass, water, and carbon dioxide in a composting environment and leaving no harmful element in the soil. In order for packaging material and products to qualify as compostable, they must completely decompose and break down into natural elements within a short time after disposal.
Increasing awareness regarding environmental packaging across the developed countries is growing the adoption rate of compostable packaging in large companies. These companies are adopting compostable packaging to retain their customer base, which is driving the compostable packaging market globally.
"Our customers are increasingly looking for plans to develop more sustainable offerings, particularly in place of conventional plastic materials," said Frank Cesario, Chief Executive Officer of Yunhong CTI and a member of the Board of Directors of YB. "We are excited about the opportunity to enter the fast-growing market for compostable products, particularly the opportunities within our customer base, whose members are asking their supplier partners to reduce waste products, including packaging. We look forward to further collaboration with Yunhong Biotechnology to advance the development and marketing of degradable material offerings, a potential win for both our customers and the environment."
YB's proprietary technology has been awarded LFGB certification in China and CE certification through the Instituto Servizi Europei Technologici (Italy).
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.
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 the ultimate resolution of elevated helium prices that impact our customers and negatively impact our revenue. We cannot anticipate future impacts from inflation, supply chain, labor availability and freight issues, and any global instability. 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 ultimate depth or duration of that disruption. We cannot guarantee that our common stock will continue to trade on the Nasdaq stock exchange, or any electronic exchange. 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.
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SOURCE: Yunhong CTI Ltd.
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