[Special Stock] CTK Signs Supply Contract with Global Largest Food Distributor 'Sysco'... Unique Biodegradable Technology Upgraded

CTK is showing strong performance. This is interpreted as being influenced by the news that it has signed a supply contract with Sysco, the world's largest food distribution company, and completed vendor registration.

As of 9:45 AM on the 13th, CTK is trading at 5,250 KRW, up 8.7% compared to the previous day.

According to industry sources on the day, CTK's subsidiary CTK BIO CANADA has signed a supply contract with Sysco, the world's largest food distributor, and completed vendor registration. Eco-friendly material products developed with proprietary technology by CTK BIO will be introduced and supplied to more than 600,000 Sysco customers worldwide, including restaurants, hotels, and medical institutions.

Since last year, CTK BIO has shown expectations for performance growth by actively supplying disposable products and agricultural-related items to global distributors and the US and Canadian governments. In April last year, the company signed a supply contract for eco-friendly material products with the Charlotte Regional Visitors Authority (CRVA) in Charlotte, USA. It also signed a supply contract with Gordon Food Service (GFS), a North American food service company with sales of 28 trillion KRW.

The company also signed a supply contract with the Fuller Group, a well-known US restaurant network, through Trimark, North America's top food and beverage equipment distributor. The Fuller Group is expanding stores such as Earls, Joey Restaurants, and Cactus Club Caf? across the US and Canada, showing high growth potential.

CTK BIO has obtained domestic and international certifications for biodegradable raw materials, recognizing its technological capability and marketability. The company holds biodegradability certifications from Europe’s top testing and certification body TuV Austria, the US FDA, the Canadian Food and Drug Agency, global certification company SGS, US biodegradable plastics certification body RespirTek, and KOTITI Testing & Research Institute.

The company expects this year to be the first year in which performance momentum for the biodegradable raw materials business is secured. CEO JK Park said, “The expansion of the biodegradable raw material supply chain is based on our unique eco-friendly material technology. In particular, we have secured product performance reliability through supply chain expansion starting from US public institutions, and inquiries for supply are continuing across North America.”

Meanwhile, the company expects its biodegradable raw materials to secure performance momentum in the eco-friendly agricultural mulching film and marine buoy markets, along with policy benefits. Both the mulching film and marine buoy markets have been pointed out as serious environmental pollution causes because they do not decompose well naturally and emit large amounts of microplastics during decomposition. CTK BIO explained that it has secured global top-level certifications and automated raw material manufacturing line facilities, so it expects to continue benefiting from the expansion of related markets.

This content was produced with the assistance of AI translation services.