Kraig gets OK for Vietnam subsidiary

ANN ARBOR — Kraig Biocraft Laboratories Inc. (OTCQB: KBLB) announced that it has received approval for the establishment of its new Vietnamese subsidiary, Prodigy Textiles Co. Ltd.

Kraig is working on creating silkworms with spider genes spliced into their DNA, resulting in silk with the superior strength of spiders’ web material.

Kraig officials said Vietnam has long been a focus of their efforts to launch commercial scale production of recombinant spider silk, due to the country’s existing silk production infrastructure.

While the establishment of Prodigy Textiles Co. Ltd. is viewed by the company as a major milestone toward commercialization and large scale production, 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,” said Kraig CEO Kim Thompson. “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 exceptional team of professional consultants who have worked tirelessly to make the founding of this production arm of our company a reality.”

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