IT Tech Packaging, Inc. Completes Fundamental Constructions on Its Third Tissue Paper Production Line
IT Tech Packaging, Inc. (NYSE MKT: ITP) announced the completion of fundamental constructions on its new tissue paper production line (PM10) in Baoding, China, aimed at meeting the growing domestic demand for tissue products. The company plans to enhance its production capacity, expecting substantial growth in its tissue paper segment to boost overall performance. Founded in 1996, ITP is a leading manufacturer of paper products in North China, strategically located near significant industrial markets.
- Completion of new tissue paper production line (PM10) enhances production capacity.
- Anticipation of strong growth in the tissue paper business segment.
- None.
BAODING, China, April 20, 2021 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE MKT: ITP) ("ITP" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced the Company has completed fundamental constructions on its new tissue paper production line (the "PM10") and is working on the installation of affiliated equipment.
"Amid robust domestic market demand for tissue paper products and improved production efficiency, we will continue to expanding our capacity as we expect to see strong growth from tissue paper business segment that will greatly boost our overall performance," 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 American since December 2009. For more information, please visit: http://www.itpackaging.cn/.
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:
ir@itpackaging.cn
Tel: +86 0312 8698215
Investor Relations:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
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SOURCE IT Tech Packaging, Inc.
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