BAODING, China, May 5, 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 the Company plans commercial launch of a new tissue
paper production line (the "PM10").
On April 13, 2020, the Company
signed an agreement to purchase paper machine with paper machine
supplier. The Company expects to launch commercial production of
the PM10 following success of its trial run.
"As the tissue paper market represents significant opportunities
for us with its strong growth prospects, especially outbreak of
COVID-19 stimulates consumption surge of life necessaries such as
tissue paper, we plan to launch the third tissue paper production
line in addition to the existing PM8 and PM9. With the feature of
energy conservation of the PM10, the company will continuously
launch new tissue paper production lines, which we believe will
provide significant profits for the Company in the future." said
Mr. Zhenyong Liu, Chairman and Chief
Executive Officer of IT Tech Packaging.
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.