IT Tech Packaging Announces Plans for a Third Tissue Paper Production Line in North China
May 5, 2020 - IT Tech Packaging, Inc. today announced plans for the commercial launch of a new tissue paper production line, PM10 in North China. The company said on April 13 it signed a purchase agreement with a machine supplier for the delivery of PM10.
No further details were provided about the machine capacity or start-up date.
IT Tech Packaging expects to launch commercial production of the PM10 following successful trial runs.
"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," said Zhenyong Liu, Chairman and Chief Executive Officer of IT Tech Packaging.
"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, he added.
About IT Tech Packaging
Founded in 1996, IT Tech Packaging, Inc. (NYSE MKT: ITP) 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. For further information, visit: www.itpackaging.cn
SOURCE: IT Tech Packaging, Inc.