BAODING, China, March 10, 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 the Company have resumed 70% of its full capacity of
production as of March 5, 2020,
following the strict measures put in place for the control and
prevention of the Covid-19 spread. The Company expects to resume the rest of the production in
the next couple days.
To meet the increasing public demand for household tissue paper,
the Company immediately made its sufficient inventories available
to increase its paper products supply after the outbreak of
Covid-19. In addition, the Company donated tissue paper products
and epidemic prevention products to support quarantine officers and
healthcare personnel battling against Covid-19 in the region where
the Company situated.
Mr. Zhenyong Liu, the CEO and Chairman of the Company,
commented," As the epidemic is almost controlled over the country,
our productions and operations are back on track at full speed. We
deeply express our respect and gratitude to the quarantine officers
and healthcare personnel fighting against the Covid-19, and believe
that the epidemic has limited impact on our business due to
efficient and active control and prevention measures taken by
Chinese government. Despite a challenging start of the 2020, we
still believe that our business such as corrugated medium paper
production will be steadily improved as it benefits from the
Guidance On Speeding Up The Transformation and Development Of
China's Packaging Industry issued by the Ministry of Commerce of
the Ministry of Industry and Information Technology (MITT),
according to which China will be
the largest packaging consumption and manufacture market with a
leading growth rate above the global average level."
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.