Kraig Biocraft Laboratories Announces Management Changes and Recalibration at Its Vietnam subsidiary, Prodigy Textiles, to Support Production of Spider Silk
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ANN ARBOR, Mich., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company" or "Kraig Labs"), the biotechnology company focused on the development and commercialization of spider silk, today announced a shakeup of the management of its Vietnamese subsidiary, Prodigy Textiles ("Prodigy"). The changes in management personnel and the implementation of new procedures are intended to refocus and re-energize Prodigy, as the Company's silkworm breeding and egg production/distribution center to support large-scale spider silk manufacturing.
These changes are part of the Company's larger efforts to optimize operations and fulfill its vision to commercialize spider silk using its scalable, cost-effective, and eco-responsible technologies.
Prodigy's day-to-day will be led by its new general manager under the supervision of Kraig Labs' COO. Mr. Ken Le will retain his position as Prodigy Textiles Director, focusing on business development and government relations. The Company is also replacing Prodigy's head of sericulture and onboarding industry expertise.
"These steps, designed to improve efficiencies and encourage innovation, were taken after thoroughly assessing Prodigy's operations, procedures, and management," said COO Jon Rice. "The spider silk technologies developed at Kraig Labs are ready for large-scale production. I am confident that the changes we are making at Prodigy will provide the platform for that growth."
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a reporting biotechnology company, is the leading developer of genetically engineered spider silk-based fiber technologies.
The Company has achieved a series of scientific breakthroughs in the area of spider silk technology with implications for the global textile industry.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release about the Company's future and expectations other than historical facts are "forward-looking statements." These statements are made on the basis of management's current views and assumptions. As a result, there can be no assurance that management's expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as "believes," "plans," "expects," "anticipates," "foresees," "estimated," "hopes," "if," "develops," "researching," "research," "pilot," "potential," "could" or other words or phrases of similar import. Forward-looking statements include descriptions of the Company's business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com
