WENLING, China and ALLENTOWN, Pa., Feb.
25, 2020 /PRNewswire/ -- Fuling Global Inc. (NASDAQ: FORK)
("Fuling Global" or the "Company"), a manufacturer and distributor
of environmentally friendly plastic and paper foodservice
disposable products, today announced that its newest manufacturing
facility, based in Semarang City, Central
Java, Indonesia, has officially opened and launched
production of straws, sauce cups, take-out boxes and paper cups.
The new facility is the Company's third manufacturing plant outside
of China.
Fuling Global established its first manufacturing facility
outside of China in 2014, in
Allentown, Pennsylvania, which
serves as the company's U.S. headquarters. Last year, Fuling Global
opened its second manufacturing facility in Monterrey, Mexico.
"Completion of our factory in Indonesia represents an important milestone in
Fuling Global's strategy to become a global supplier of foodservice
disposable products, offering innovative research and development
and high-quality products, with international sourcing capability,"
said Mr. Xinfu Hu, CEO of Fuling
Global Inc. "It is also by far our largest production plant outside
of China and will enable us to
provide our international clients with a comprehensive line of
products."
The new Indonesia manufacturing
facility spans nearly 194,000 square-feet. The Company expects to
install 64 production lines of manufacturing equipment in two
phases during 2020, including 20 straw production lines; 12 cup lid
and packing box production lines; eight sauce cup production lines;
and 24 paper cup production lines. Later this year, the Company
plans to increase production to include paper bags. When both
phases are done and fully operational, the Company expects to have
approximately 500 employees at this facility and achieve annual
production scale of approximately US$60
million, assuming sufficient customer orders.
About Fuling Global Inc.
Fuling Global Inc. manufactures and distributes
environmentally-friendly disposable serviceware for the foodservice
industry, with six precision manufacturing facilities in the U.S.,
Mexico, Indonesia and China. The Company's plastic and paper
serviceware products include disposable cutlery, drinking straws,
cups, plates and other plastic and paper products and are used by
more than one hundred customers, including some of the world's most
notable quick-service restaurants and retailers, primarily in the
U.S. and European countries. More information about the Company can
be found at: http://ir.fulingglobal.com/.
Forward-Looking Statements
This press release contains information about Fuling Global's
view of its future expectations, plans and prospects that
constitute forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Actual results,
including, but not limited to, completing the installation of
manufacturing equipment and achieving annual sales at a rate of US
$60 million, may differ materially
from historical results or those indicated by these forward-looking
statements as a result of a variety of factors including, but not
limited to, risks and uncertainties associated with its ability to
raise additional funding, its ability to maintain and grow its
business, variability of operating results, its ability to maintain
and enhance its brand, its development and introduction of new
products and services, the successful integration of acquired
companies, technologies and assets into its portfolio of software
and services, marketing and other business development initiatives,
competition in the industry, plastic and oil pricing, general
government regulation, economic conditions, the effect of novel
coronavirus and other health matters on target markets, dependence
on key personnel, the ability to attract, hire and retain personnel
who possess the technical skills and experience necessary to meet
the requirements of its clients, and its ability to protect its
intellectual property. Fuling Global encourages you to review other
factors that may affect its future results in Fuling Global's
annual report and in its other filings with the Securities and
Exchange Commission. Fuling Global disclaims any obligation to
update any forward-looking statements to reflect events or
circumstances after the date hereof.
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SOURCE Fuling Global Inc.
