ANN ARBOR, Mich.--(BUSINESS WIRE)--
Kraig Biocraft Laboratories, Inc. (KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that its subsidiary Prodigy Textiles has taken possession of its factory in Vietnam. The Company is now retrofitting the nearly 50,000 square foot facility to produce its game changing recombinant spider silk materials. Remodeling efforts are expected to be minimal and completed quickly. This facility was selected based on its optimal layout and existing infrastructure.
“Our people on the ground in Vietnam are wasting no time getting this facility into operation. We have outlined a very aggressive timeline for bringing the factory online and we are monitoring progress daily,” said Kraig’s COO Jon Rice. “We are very pleased to see how quickly things are moving and look forward to completing the transition. We expect to make delivery of the first production batch of our recombinant spider silk thread from this factory to one of our strategic market channel partners in the third or fourth quarter.”
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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.
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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.