WENLING, China and ALLENTOWN, Pa, Nov. 25,
2019 /PRNewswire/ -- Fuling Global Inc. (NASDAQ: FORK), a
manufacturer and distributor of environmentally friendly plastic
and paper foodservice disposable products, today announced it has
signed a 10-year lease on a property in Semarang City, Central Java, Indonesia, on which it plans to
operate a 194,000 square-foot manufacturing and distribution
facility.
Fuling Global said manufacturing equipment will be installed in
two phases. The first phase is a 97,000 square-foot plant, which
will produce straws, paper cups and plastic cup lids. Fuling
expects to start trial production in the first phase during the
first quarter of 2020. The second phase, which is another 97,000
square-foot plant, will be set up for production of disposable
tableware, packaging containers and plates. The company anticipates
trial production in the second phase during the second quarter of
2020.
"Our expansion into Indonesia
will be Fuling Global's sixth manufacturing facility and third
outside of Mainland China," said Xinfu
Hu, CEO of Fuling Global Inc. "The new facility will provide
further efficiencies and economic benefits, including reduced U.S.
tariff expenditures. The Indonesian facility is part of our
corporate initiative to expand marketing and sales throughout
Southeast Asia, as well as serving
U.S. markets.
"When fully operational, the Indonesian facility will have
approximately 500 employees," added Fuling Global's Chairwoman
Guilan Jiang. "As we continue our
global expansion, we also are pleased that our recently completed
manufacturing facility in Monterrey,
Mexico successfully started its trial operation earlier this
year. We shipped our first run of plastic straws from Mexico to our U.S. customers in October.
In addition, we plan to produce other products at our Monterrey facility, including paper straws and
paper cups, to serve our customers' evolving needs."
About Fuling Global Inc.
Fuling Global Inc. manufactures and distributes plastic and
paper serviceware for the foodservice industry, with precision
manufacturing facilities in the U.S., Mexico 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 primarily from the U.S.,
China and Europe, including Subway, Wendy's, Burger
King, Taco Bell, KFC (China only),
Walmart, and McKesson. 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, the timing of equipment installation
and production trials on its new facility in Indonesia and customer demand for products
from current and future facilities, 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, general government regulation,
economic conditions, 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.