ANN ARBOR, Mich., June 01, 2021 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company” or “Kraig Labs”), the biotechnology company focused on the development and commercialization of spider silk, announces considerable investments in strengthening its Vietnam based production operations.
Kraig Labs is in the process of receiving and installing equipment, which was purchased to speed up and expand silk production at the Company’s Prodigy Textiles facility. The new equipment will support the next phase of expansion, improving and automating a critical production step.
In 2020, production in Vietnam was shut down due to mandatory governmental safety measures related to COVID-19. Since restarting, the Company’s production facility has been in continuous operation with output limited by continued COVID-related restrictions on shipping and travel. The new equipment will support continued production, circumventing bottlenecks resulting from COVID-related restrictions.
“As we look to a post quarantine world, the Company is working aggressively to build resiliency into our production system, integrating core components of research and automation into our production factory,” said COO Jon Rice. “COVID-19 resulted in a shutdown in 2020, and COVID’s recent spike in Vietnam has caused the Company to take these steps to facilitate our expansion. We believe that these efforts to build resiliency will provide both long-term and immediate boosts to our operations.”
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully reporting biotechnology company, is a developer of genetically engineered spider silk based fiber technologies.
Cautionary Statement Regarding Forward Looking Information
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.
Ben Hansel, Hansel Capital, LLC
(720) 288-8495
ir@KraigLabs.com