Kraig Biocraft Laboratories (OTCQB: KBLB), a developer of spider silk based fibers, recently announced that it has attained approval for the formation of its new Vietnamese subsidiary, Prodigy Textiles Co. Ltd. The company has received its official investment registration certificate from Vietnam for the new subsidiary. Management sees the establishment of the company’s first subsidiary as a key milestone on the way to reaching its long-term goal of engaging in large scale spider silk production. “What a great moment for Kraig Labs and the entire Spider Silk industry. We anticipate that our new subsidiary in Vietnam will open the doors and pave the way for spider silk production and our commercialization efforts,” Kraig Biocraft Laboratories founder and CEO Kim Thompson stated in the news release.
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About Kraig Biocraft Laboratories, Inc.
Kraig Biocraft Laboratories, Inc. is a fully reporting biotechnology company and 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. For more information, visit the company’s website at www.KraigLabs.com.
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