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Kraig gets approval for Vietnamese subsidiary firm
25
Apr '18
Kraig gets approval for Vietnamese subsidiary firm
Kraig Biocraft Laboratories, Inc., the leading developer of spider silk based fibres, has announced that it has received approval for the establishment of its new Vietnamese subsidiary, Prodigy Textiles Co. Ltd. The establishment of the subsidiary is a major milestone towards the company’s long term goal of establishing large scale spider silk production.

Vietnam has been the focus of the company’s efforts to launch commercial scale production of recombinant spider silk, due to the country’s existing silk production infrastructure. The company’s advanced silk production platform was designed specifically to fit within and utilise existing silk industry infrastructure.

While the establishment of Prodigy Textiles Co. Ltd. is viewed by the company as a major milestone toward commercialisation and large scale production, establishing production in Vietnam requires a separate government issued enterprise registration certificate.

Founder and CEO of the company Kim Thompson said, “We anticipate that our new subsidiary in Vietnam will open the doors and pave the way for spider silk production and our commercialisation efforts. I want to thank our COO, Jon Rice, and our exceptional team of professional consultants who have worked tirelessly to make the founding of this production arm of our company a reality.” (GK)

Fibre2Fashion News Desk – India


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