ANN ARBOR, Mich.--(BUSINESS WIRE)--Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) (“Company”), the leading developer of spider silk based fibers, announces today that a senior member of its leadership team is travelling to Vietnam to oversee operations at the Company’s subsidiary Prodigy Textiles Ltd., construction at the Company’s new facility, and to coordinate the transfer of silkworms from the temporary facility into their permanent home. Management also anticipates meeting with provincial leaders to discuss further expansion of Prodigy Textiles production.
During this trip, a senior official from Kraig Labs plans to interview and select candidates for several key positions, including operational and financial leadership roles within Prodigy Textiles. Management has also set aside time to meet with its Vietnamese bankers to outline and discuss a collaborative agreement as Prodigy Textiles prepares to grow rapidly.
“Work at Prodigy Textiles has been moving quickly as we have continued to direct progress from our U.S. operations. It is now time for the Company to send someone back to Vietnam in order to oversee the hiring and filling of key positions as we build out our operational leadership team at Prodigy and transition to larger scale silk production,” said COO, Jon Rice. “I am excited to watch our international team grow as we work together bringing our environmentally sustainable, high performance textiles and yarns to the global markets.”
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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.
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.