IT Tech Packaging, Inc. Plans a Production Line to Produce Face Masks
BAODING, China, April 15, 2020 /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 that it is in the process of launching a production line to produce face masks. Once completed, the Company will be able to produce approximately 100,000 face masks per day. The face masks will be distributed by various channels to public and healthcare workers battling the spread of COVID-19. The Company has received some orders from several customers. The Company expects to begin producing masks in the week of April 20, 2020.
Mr. Zhenyong Liu, the CEO and Chairman of the Company commented, "The demands for protective gear continue to increase due to COVID-19. Notwithstanding China's having made significant progress in limiting the spread of the virus, individuals have to continue taking necessary health and safety measures, as required by the healthcare authorities in China. Given the situation, we expect a large quantity of face masks will be needed for the public and for workers in different industries for an extended period of time. We hope our face masks will help our customers follow government guidance on health and safety measures during the Covid-19 pandemic. I am grateful for our teammates' quickly preparing the launch of the production line and we are closely following public health guidance and guideline for sanitation to start production of the face masks."
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.
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