BAODING, China, Nov. 20, 2019 /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 commercial launch of a new tissue paper production line (the "PM9 Production Line"), following the success of its trial production, the receipt of its disposed wastewater discharge permits and construction completion acceptance from Chinese environmental authorities. Until now, the Company has its two tissue paper production lines PM8 and PM9 operational.
"We are delighted that all of the planned tissue paper production lines, PM8 and PM9, have been launched and operational. In addition to the existing packaging and cultural paper services, we have eventually completed our own production lines of tissue paper products, we expect continued revenue stream will be generated from our tissue paper products as capacities of the new production lines gradually released in the next couple months. As we anticipate China's tissue paper market will continue its growth in 2020, we are actively diversifying our products portfolio as attempting to bring value-added products and cutting-edge equipment, and continuing restructure our raw materials and technologies to catering to the consumption upgrade of domestic market", 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: +86 312 8698215
Investor Relations:
Melody Shi, CPA
EverGreen Consulting Inc.
Email: ir@changqingconsulting.com
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