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.
For more information, please contact:
At the Company
Email: ir@itpackaging.cn
Investor Relations:
Tony
Tian,
CFA
Email: ttian@weitianco.com
Phone: +1-732-910-9692
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SOURCE IT Tech Packaging, Inc.