Yunhong CTI Ltd. Expands Production Capacity 28% to Keep Up with Increased Existing Customer Demand
December 22, 2020 at 08:30 AM EST
Addition of Second Machine Expected to Increase Company's Foil Novelty Balloon Output by 28% Annually Starting in Q4 2020
LAKE BARRINGTON, IL / ACCESSWIRE / December 22, 2020 / 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 a second production machine 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 28% annually starting in the fourth quarter of 2020. The additional equipment will support the Company's previously announced production capacity expansion initiative that commenced in early November and which was expected to expand production capacity of foil novelty balloon output by 14% annually starting in the fourth quarter of 2020. 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.
"We now have two new production machines fully operational, enabling us to meet growing customer demand for our foil novelty balloons. The additional production capacity is essential as we prepare for our seasonally strongest customer demand associated with Valentine's Day, Mother's Day, Father's Day and Graduation," said Jana M. Schwan, Chief Operating Officer of Yunhong CTI.
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