CTI Industries Corp (CTIB) Announces Purchase Orders Valued at $7.85M
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CTI Industries Corporation (NASDAQ: CTIB), a manufacturer and marketer of vacuum sealing systems, foil balloons, latex balloons, printed and laminated films, and home organization products, is pleased to announce that the Company has received purchase orders for 167,000 Branded Vacuum Sealing Machines, and associated film items, for delivery in the Fourth Quarter, 2016. The total purchase price value of the order is $7.85 million.
Stephen Merrick, President of the Company, stated: "We are pleased to receive this large order for our vacuum sealing product line. We believe this order confirms that we have achieved standing in the market as one of the principal market participants. Together with other anticipated sales of vacuum sealing products this year, we expect to achieve a substantial increase in our total sales of vacuum sealing products this year."
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