WENZHOU, China, Feb. 1, 2018 /PRNewswire/ — ZK International Group Co., Ltd. (Nasdaq: ZKIN) (“ZKIN”, “ZK International” or the “Company”), today announced the formation of a wholly-owned subsidiary, XSigma Corporation, focused on creating, servicing, and enabling technologies in the blockchain ecosystem.
XSigma will aim to give the Company the ability to develop innovative solutions to support its core operations while exploring new opportunities in the fields of smart contracts, distributed ledgers, supply chain management, and other efficiencies afforded by blockchain architecture. Blockchain is a technical phenomenon with the ability to dramatically reduce cost and heighten services by automatically and permanently recording transactions, in the cloud, with complete transparency, solving numerous problems in documentation, contracts, data and content management, and manufacturing. The Company is currently reviewing candidates for leadership roles of the new subsidiary.
Mr. Jiancong Huang, Chairman and CEO of ZK International, stated, “Our continual pursuit of innovation made our decision to invest and explore a move into the blockchain highly strategic, with enormous potential for improved profitability and competitive advantages. With the recent investment into ZK International from global blockchain leaders, Tony Guoga from Bankera.com and Blockchain Center, along with Layla Dong from Blockshine Technology Corporation, we have been provided with the opportunity to leverage their knowledge, experience and relationships. We remain committed to being a leader in improving the global water and gas infrastructure challenges.”
About ZK International Group Co., Ltd.
ZK International Group Co., Ltd. is a China-based designer, engineer, manufacturer and supplier of patented high-performance stainless steel and carbon steel pipe products that require sophisticated water or gas pipeline systems. The Company owns 28 patents, 21 trademarks, 2 Technical Achievement Awards, and 10 National and Industry Standard Awards. ZK International is preparing to capitalize on the $850 Billion commitment made by the Chinese Government to improve the quality of water, which in its current supply state is 70% unfit for human contact. ZK International is Quality Management System Certified (ISO9001), Environmental Management System Certified (ISO1401), and a National Industrial Stainless Steel Production Licensee that is focused on supplying steel piping for the multi-billion dollar industries of Gas and Water sectors. ZK has supplied stainless steel pipelines for over 2,000 projects, which include the Beijing Capital Airport, the “Water Cube” and “Bird’s Nest”, which