BAODING, China, Sept. 24, 2020 /PRNewswire/ -- IT Tech Packaging,
Inc. (NYSE American: ITP) ("IT Tech Packaging" or "the Company"), a
leading manufacturer and distributor of diversified paper products
in North China, today announced
that the Company is advancing negotiation with one of its top 5
customers, based in Shandong
Province for orders of the paper products. The customer is
currently ranked among the top 5
customers of the Company during the past couple of years.
Based on the negotiation, the Company and the customer will
further cooperate on products supply and purchase in the next
quarters and definitive new contracts are expected to be signed by
the end of the year. Based on its increasing clients' demand, the
customer will continue to increase its purchase orders from the
Company.
Mr. Zhenyong Liu, Chairman and
Chief Executive Officer of IT Tech Packaging commented, "We are
pleased with the negotiation with the customer for further
partnership. As Chinese economy recovers from the COVID-19 epidemic
with an amazing pace, our top clients such as companies focusing on
printing and packaging are also receiving amount of orders and some
even have backlog of orders, so they push forward the negotiations
for raw materials and increase purchase volume of our products. We
appreciate their confidence in our
products as well as efficiency of delivery. We hope the stable
partnership between us will continue contributing considerable
revenue stream in the upcoming quarters."
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 American 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
+86-138-1176-8559
+1-908-510-2351
EverGreen Consulting Inc.
Email: ir@changqingconsulting.com
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SOURCE IT Tech Packaging, Inc.