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Blokkx Ltd, corporate

Blokkx Ltd,

26.03.2021 - 09:01:49

YaniMed to Set Up Nitrile Glove Factory in the U.S.

Frank Zielkowski CEO Yanimed (Blokkx Ltd.) Valletta 26th March 2021Yanimed,?a brand of Blokkx Ltd. based in Malta, is actively looking into investing up to US $90 million to set up a?nitrile glove factory?in the US. Partnering with an American financial advisor, the company aims to install 3 independent dipping lines with 8 dipping lines per unit, with a target of producing 4.8 million boxes of nitrile gloves per month of manufacturing capacity. YaniMed aims to acquire land permits by April 2021, with all three projected units up and running by April 2022.? "Blokxx Ltd. is one of the world's fastest-growing distributors of medical technology and pharmaceutical products and services. Through one of our top brands YaniMed (nitrile glove production), we aim to provide the best solutions in terms of safety and hygiene to our clients and customers around the world", Frank Zielkowski the founder??stated.? The global market for disposable gloves is highly competitive. When it comes to market growth, factors such as increasing awareness regarding hygiene and infection prevention, and the development of healthcare infrastructure are the most prominent driving forces. Moreover, advancements in surgical techniques, innovations in medical instrumentality, a rise in personal and public investments, the support of government facilities, and a rise in the incidence of chronic diseases have led to a further increase in the demand for safe and durable disposable gloves. Due to the ongoing COVID-19 pandemic, the demand for medical gloves has further increased, with a rapid surge in countries such as the US, UK, China, India, Italy, and Iran. The disease has highlighted the significance of maintaining hygiene, and with the pandemic still spreading at an alarming rate, the market for disposable gloves is expected to further accelerate. The global nitrile gloves market is anticipated to reach USD 8.50 Billion by 2027, due to the growth in the incidence of epidemic diseases and a subsequent rise in the quest for infection prevention and control utilities. Geographically, the US dominates the global nitrile gloves market, due to the ban on powdered medical gloves and the higher number of cases of latex allergies.? Currently, many factors are favoring the setting up of a glove production factory in the US, more preferably a nitrile glove production unit. Rising concerns about latex allergy are the most significant driver of the nitrile glove market. A ban on powdered gloves by the US Food and Drug Administration (FDA) and some European countries has escalated the demand for powder-free nitrile gloves. Also, more stringent laws relating to workers' safety and hygiene across many end-user industries have further boosted the global demand for nitrile gloves. Mainly used in the medical sector, nitrile gloves act as an effective safety tool for preventing the spread of infection between patients and caretakers. The benefits of nitrile gloves, as opposed to latex gloves, include greater strength, increased longevity, and superior protection against blood-borne pathogens. Moreover, nitrile gloves offer better chemical and puncture resistance as compared to latex gloves.? A key factor for the rise in demand for nitrile gloves is their hypoallergenic nature. Made using synthetic rubbers, the occurrence of a nitrile rubber allergy is significantly low. Also, nitrile gloves are not packaged in powder, making them easier to handle and use and the ideal choice for emergencies. Hence, for setting up a nitrile glove factory in the US, YaniMed's core strength must lie in the distinguished quality of their finished nitrile gloves, the power of their team as a whole, and a novel and unique production plant. Moreover, a team of trained and highly experienced engineers capable of produce top-notch nitrile gloves will also be required. "We are pleased that in a very short time we were able to attract a team of specialists with more than 40 years of experience in the latex industry. We have thus fulfilled an important criterion for producing high-quality medical products. Furthermore, we have been able to build up a close contact network to the most important manufacturers of the raw material NBR latex. Ravishankar Tumuluri , CFO of Blokkx Ltd, Moreover, new set-ups must be able to conduct a proper cost-benefit analysis and provide a product that is affordable yet uncompromised in terms of quality.?Also, the reusability of nitrile gloves can facilitate price savings and boost product demand, nurturing market growth.

Contact InformationBlokkx Ltd.?Tel No.: + 44 330 02 7 02 07??????????????????????????????????????????????????????Email: info@yanimed.com 150 St. Lucia's Street Il-Belt????????????????????????????????????????????????????????????????????? Valletta | Malta ?

End of Media Release Issuer: Blokkx Ltd Key word(s): Finance

26.03.2021 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Blokkx Ltd 60 Amery Street SLM1707 Sliema

Malta Internet: https://yanimed.com/ EQS News ID: 1178777 ? End of News DGAP Media


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