IT Tech Packaging, Inc. Furthers Partnership with Its Pulp Paper Supplier Asia Symbol
3 December 2019
BAODING, China, Dec. 3, 2019 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE MKT: ITP) ("IT Tech Packaging" or "the Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced that the Company and Asia Symbol (Shandong) Pulp and Paper Co. Ltd. ("Asia Symbol"), which is a pulp paper supplier of the Company, agreed to further cooperation into aspects of technologies and enterprise supply chain, based on the existing pulp paper supply cooperation. Currently, Hebei Tengsheng Paper Co. Ltd. ("Tengsheng Paper"), the wholly-owned subsidiary of the Company and focusing on manufacturing and distribution of tissue paper, is executing an agreement that purchasing pulp paper from Asia Symbol.
The new partnership specifically involves technology exchange between ITP and Asia Symbol on a regular basis, and ITP's adding into Asia Symbol's supply chain traceability system to make sure products' quality and environmental requirements.
Asia Symbol is a leading producer of pulp and paper established in China in 2005. Using renewable fibre that is sourced responsibly, Asia Symbol employs the latest technology to save energy and operate in harmony with the environment, which the Company is and will be practicing in its environmental protection cause.
Mr. Zhenyong Liu, Chairman and Chief Executive Officer of IT Tech Packaging commented, "We believe the partnership with Asia Symbol which has world-leading technologies of pulp and paper manufacturing will not only benefit the sustained supply of pulp paper as raw materials to our tissue paper products, but also enhance our technologies and product quality. "
About IT Tech Packaging, Inc.
Founded in 1996, IT Tech Packaging, Inc. is a leading manufacturer and distributor of diversified paper products in North China. Using recycled paper as its primary raw material (with the exception of its tissue paper products), ITP produces and distributes three categories of paper products: corrugating medium paper, offset printing paper and tissue paper products. With production based in Baoding and Xingtai in North China's Hebei Province, ITP is located strategically close to the Beijing and Tianjin region, home to a growing base of industrial and manufacturing activities and one of the largest markets for paper products consumption in the country. ITP has been listed on the NYSE MKT since December 2009.
Safe Harbor Statements
This press release may contain forward-looking statements. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks outlined in the Company's public filings with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K. All information provided in this press release speaks as of the date hereof. Except as otherwise required by law, the Company undertakes no obligation to update or revise its forward-looking statements.
For more information, please contact:
At the Company
Tel: +86 312 8698215
Melody Shi, CPA
EverGreen Consulting Inc.
SOURCE IT Tech Packaging, Inc.