ANN ARBOR, Mich., Oct. 11, 2016 (GLOBE NEWSWIRE) — Kraig Biocraft Laboratories, Inc. (OTCQB:KBLB) (“Company”), the leading developer of spider silk based fibers, today announced that it has reached peak planned capacity at its new Indiana production facility ahead of schedule. To support the rapid increase in throughput, the Company has hired and is training additional full time workers. The Company expects to maintain this level of silk production through the fourth quarter of 2016. The Company has started reviewing plans for possible capacity expansion in light of the successful factory launch and demand from industry.
“The last 30 days have been a buzz of activity at our new plant,” said COO Jon Rice. “In this short period of time our team has already identified and implemented a number of process and equipment efficiency improvements, which further reinforce our position as the industry leader in spider silk technologies.”
The Company is now conducting a complete assessment of the production facility’s throughput to prepare for the delivery of Dragon SilkTM to industry customers following the Company’s completion of the first phase of its US Army contract.
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For more information about Spider Silk, check it out at www.kraiglabs.com/spider-silk.
About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. (www.KraigLabs.com), a fully 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.
CONTACT: Ben Hansel, Hansel Capital, LLC (720) 288-8495 ir@KraigLabs.com