Huadi International Group Co., Ltd. Enters into an Investment Agreement with a Songyang County Local Government Owned Enterprise to Build its Smart Factory, “Future Factory”

WENZHOU, July 05, 2023 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announced that Huadi (Songyang) Co., Ltd. (“Huadi Songyang”), a wholly-owned subsidiary of the Company, has entered into an investment agreement (the “Agreement”) with Songyang County Economic Development and Investment Group Co., Ltd. (“Songyang Group”), a Songyang County local government owned enterprise in Zhejiang Province. The Agreement aims to start an advanced “Future Factory” construction project in the Chishou Industrial Zone of southwestern Zhejiang Province, China.