Kraig Biocraft Laboratories Inc., an Ann Arbor developer of genetically engineered spider silk-based fiber technologies, today announced it has received an investment registration certificate for the establishment of its new Vietnamese subsidiary, Prodigy Textiles Co. Ltd.
Tapping into Vietnam’s extensive silk production infrastructure, Kraig Biocraft plans to expand its distribution and grow throughout Asia and elsewhere.
Establishing production in Vietnam requires a separate government-issued enterprise registration certificate.
“What a great moment for Kraig Labs and the entire spider silk industry,” says Kim Thompson, founder and CEO. “We anticipate that our new subsidiary in Vietnam will open the doors and pave the way for spider silk production and our commercialization efforts. I want to thank our COO, Jon Rice, and our … team of professional consultants who have worked … to make the founding of this production arm of our company a reality.”
This subsidiary is the company’s first.