IT Tech Packaging, Inc. Plans Its Third Tissue Paper Production Line
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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.
