Kraig gets go-ahead for Vietnamese subsidiary - sportstextiles: Lea SportsTextiles

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Kraig gets go-ahead for Vietnamese subsidiary

26/04/2018
Spider silk-based fibre developer Kraig Biocraft has announced it has received government approval to establish its Vietnamese subsidiary.

The new company will be known at Prodigy Textiles Co. Kraig described it as “a major milestone” towards its goal of establishing large-scale spider silk production.

The company selected Vietnam as the location for the launch of commercial-scale production due to the country’s existing silk production infrastructure. 

Kraig CEO, Kim Thompson, said: “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 commercialisation efforts.”

There is still one hurdle to overcome; before commencing production in Vietnam, Kraig requires a separate government-issued enterprise registration certificate.

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