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Zotefoams ( (GB:ZTF) ) has shared an announcement.
Zotefoams announces the suspension of its ReZorce packaging project after failing to secure a strategic partner to advance the technology, despite achieving significant technical milestones. The company will focus its resources on its core supercritical foams business, which continues to perform well, and the decision to exit the ReZorce and MuCell business unit is expected to reduce overheads and allow for resource reallocation, with no impact on current market expectations for financial performance.
More about Zotefoams
Zotefoams plc is a global leader in the production of supercritical foams, with a focus on creating sustainable packaging solutions. The company has been actively working on its innovative ReZorce® circular packaging technology, which targets the food, beverage, and packaging industries with its recyclable mono-material barrier packaging solution.
YTD Price Performance: -1.17%
Average Trading Volume: 107,516
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £157.5M
Find detailed analytics on ZTF stock on TipRanks’ Stock Analysis page.
