Kraig Biocraft Laboratories Confirms Operations in Vietnam's Silk Production Hub, Lam Dong Province
Rhea-AI Summary
Kraig Biocraft Laboratories (OTCQB: KBLB), a leader in spider silk manufacturing, has established production operations in Lam Dong Province, Vietnam's premier silk-producing region. This achievement follows the January 2025 issuance of a new Investment Registration Certificate (IRC), which was important for the company's expansion plans.
The establishment in Lam Dong Province represents the fulfillment of a decade-long strategic goal and positions the company to accelerate its production growth. The Department of Finance in Lam Dong has officially confirmed Kraig Labs' presence in the region, enabling the company to strengthen its supply chain and scale up its proprietary spider silk production.
CEO Kim Thompson described this development as a 'transformative moment' for the company, emphasizing their commitment to making significant investments to drive production to unprecedented levels while contributing to Vietnam's silk sector development.
Positive
- Established operations in Vietnam's premier silk-producing region
- Secured important Investment Registration Certificate (IRC) for expanded production
- Strategic positioning in key silk manufacturing hub strengthens supply chain
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, KBLB gained 3.09%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
ANN ARBOR, Mich., March 17, 2025 (GLOBE NEWSWIRE) -- Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) ("Company" or "Kraig Labs"), a world leader in spider silk manufacturing, is pleased to confirm it has established production operations in Lam Dong Province, Vietnam. This milestone marks the fulfillment of a long-standing strategic goal that the Company has pursued for more than a decade.
In January of this year, Kraig Labs announced the issuance of a new Investment Registration Certificate (IRC) for expanded production. This IRC was a critical regulatory achievement, paving the way for the Company to fully establish and scale its production in Vietnam's premier silk-producing region.
As the heart of Vietnam's silk production, Lam Dong Province is the ideal location for the Company’s expansion and investment into large-scale spider silk manufacturing. With the recently issued report by the Department of Finance in Lam Dong, Kraig Labs can now officially confirm its presence in the region.
With this key development, Kraig Labs is accelerating its production growth, positioning the Company to execute its ambitious expansion plans for 2025 and beyond. By establishing operations in Vietnam's silk capital, the Company is strengthening its supply chain and scaling up its proprietary spider silk production.
"This is a transformative moment for Kraig Biocraft Laboratories," said the Company’s Founder and CEO, Kim Thompson. "Establishing operations in Lam Dong has been a priority for more than ten years and now, with our footprint firmly in place, we are making significant investments to drive our production to unprecedented levels."
As Kraig Labs continues to expand, the Company remains committed to leveraging its innovative technology to revolutionize the performance textiles industry while contributing to the development of Vietnam's silk sector.
For the latest updates on Kraig Labs and its pioneering spider silk technologies, visit www.kraiglabs.com.
For details about other recent Kraig Labs advancements, please watch the Company's investor conference at www.kraiglabs.com/videos or on the Company's YouTube Channel https://www.youtube.com/@kraigbiocraftlaboratories2270.
To view the most recent news from Kraig Labs and/or to sign up for Company alerts, please go to www.KraigLabs.com/news.
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.
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
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2971a17b-074b-44ac-9a4e-1e73a008ead2
FAQ
What is the significance of KBLB's expansion into Lam Dong Province, Vietnam?
When did KBLB receive its Investment Registration Certificate for Vietnam operations?
How long has KBLB been planning the Lam Dong Province expansion?
What are KBLB's production plans for 2025 following this expansion?
