PRESS RELEASE

[Press release] Bioplus, to establish mask manufacturing facility with VTGMP

By 2020년 July 3일October 21st, 2020No Comments

[Press release] Bioplus, to establish mask manufacturing facility with VTGMP

Money today | Ban Joon-hwan Reporter
2020.07.01 13:58

Bioplus, to install Mask Manufacturing Facility in Paju land Site

KOSDAQ-listed VTGMP announced on the 1st that it has signed a joint business agreement with Bioplus regarding the manufacture and sale of dental masks.

Through this joint business agreement, VTGMP has now facilities for manufacturing dental masks on idle land in Munbal-dong, Paju. It will be able to supply them along with production, and it will be able to collaborate Hyaluronic acid filler businesses with Bioplus that have global technological competitiveness.

Bioplus is a company that manufactures and sells filler and other medical devices, and it established a joint venture in Hainan Special District in last June to produce filler directly in China and announced plans to sell and export it to foreign countries.

“We have signed an agreement on joint mask business to establish an environment suitable for the post-corona era and respond to new trends, and we will be able to produce and sell them by the end of July,” said a representative for VTGMP.

Bioplus Chairman Chung Hyun-kyu said, “This joint mask project with VTGMP will be able to sell about 20 million masks every month, focusing on overseas sales through global networks that the two companies have built so far.”

Meanwhile, Bioplus also participated in the paid-in capital increase of Cube Entertainment, a subsidiary of VTGMP, which was issued in May, and KVLY, a subsidiary that runs the media commerce business, is also preparing for a business plan by paying attention to Hainan, the largest economic zone in China, which is expected to have synergy effects in various structures in the future.

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