IT Tech Packaging, Inc. Launches Tissue Paper Production
18 December 2018
BAODING, China, Dec. 17, 2018 /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 the commercial launch of tissue paper production, following the completion of construction and equipment installation, the receipt of proper approvals, including wastewater discharge permit, from local authorities, and the success of trial production of its first tissue paper production line (the "PM8 Production Line"). The PM8 Production Line is located at Wei County Industrial Park in Hebei Province, China, with annual production capacity of 15,000 tonnes. The Company also plans to start the construction of another tissue paper production line ("PM9") with annual production capacity of additional 15,000 tonnes in the next several months.
"As we are continuing to seek ways to grow our business, we believe the tissue paper market represents significant opportunities for us with its strong growth prospects. We expect the PM8 Production Line, combined with our existing tissue paper packaging capability, to offer another leg of growth for the Company in coming quarters," said Zhenyong Liu, Chairman and Chief Executive Officer of IT Tech Packaging.
About IT Tech Packaging, Inc.
Founded in 1996, IT Tech Packaging, Inc. ("ITP") 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.
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At the Company
Tony Tian, CFA
SOURCE IT Tech Packaging, Inc.