BAODING, China, April 7, 2020 /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 its tissue paper production lines are now running at full
production capacity to fulfill orders. The average selling price of
tissue paper increased 8% from USD $836 per tonne to USD $903 per tonne in the first quarter, resulting
from growing demand because of Covid-19.
Mr. Zhenyong Liu, the CEO and Chairman of the Company
commented, "After a short delay of production due to Covid-19
restrictions, we have experienced increasing market demand and
orders for tissue paper products. We anticipate that this trend
will carry over to the second quarter and more sales will be
generated from our tissue paper products during the first quarter
of 2020."
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 Email:
ir@itpackaging.cn
Tel: +86 0312 8698215
Investor Relations:
Janice Wang
EverGreen Consulting Inc.
Email: ir@changqingconsulting.com
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SOURCE IT Tech Packaging, Inc.