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Dragon International Group Corp. (OTCBB: DRGG), one of China's leading manufacturers and distributors of specialty paper products and packaging materials, today announced that it has been awarded a one-year contract with Hunan Prince Milk Group to supply 500 tons of 2 layer, high performance food packaging aluminum compound paper, a newly developed packaging product by Dragon International Group. The one-year contract is valued at approximately $2.3 million USD.
The new product consists of 2 layers of high performance food packaging aluminum compound paper developed by Dragon International Group by using its proprietary technology. According to initial feedback from the Hunan Prince Milk Group, Dragon International's newly developed packaging product reduces material cost by 20% and production consuming energy by 15 to 20%, helping the milk producer lower its costs of finished milk products on two separate fronts.
Mr. David Wu, CEO and Chairman of Dragon International Group, stated, "We are thrilled to be awarded this contract for our proprietary packaging design. Hunan Prince Milk Group is one of the major dairy product manufacturers in China. As we are now a qualified supplier of Hunan Prince Milk Group, we are confident that we can gradually expand our market share in the high-end food packaging industry in China. We believe this contract represents another tremendous growth opportunity as we continue to diversify our packaging businesses into food and pharmaceutical packaging sectors where higher profit margins can be attained."
About Dragon International Group Corporation
Dragon International Group Corp. is one of China's manufacturers and distributors of specialty paper products and packaging materials. DRGG has a distribution network covering east and central China. The Company and its subsidiaries have cultivated strategic relationships with several of the world's largest and most well-known manufacturers of paper and specialty packaging products. For more information, please visit http://www.drgg.net.Posts: 1364 | From: Somebody from Europe | Registered: Sep 2005
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