Naturally Advanced Technologies and Levi Strauss & Co. Enter Into Development Agreement For CRAiLAR Flax Fiber
14 April 2011 - 8:09PM
PR Newswire (Canada)
PORTLAND, OR, April 14 /CNW/ -- PORTLAND, OR, April 14 /CNW/ -
Naturally Advanced Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV:
NAT) today announced that it has entered into a short term CRAiLAR®
Flax fiber development agreement with Levi Strauss & Co.
beginning in April 2011 to support evaluation of processing CRAiLAR
flax fiber in woven casual apparel products, specifically denim and
non-denim, bottom and top weight fabrics. "Levi's and Dockers are
the quintessential denim and casual wear brands," said Ken Barker,
CEO of NAT. "We are very excited to be working with a company like
Levi's because it aligns with our broad strategic goal of
identifying and partnering with the most important brands in
categories upon which we believe we can make the greatest impact. I
have great confidence in the ability of CRAiLAR to make a
performance and economic impact for Levi's products." Last month,
the Company announced a 10-year purchasing agreement with
Hanesbrands. This was the first commercialization agreement for its
CRAiLAR flax fiber. Later that month, it announced a short term
purchasing agreement with Georgia-Pacific to further evaluate the
use of CRAiLAR in formed materials. Naturally Advanced Technologies
Inc. Naturally Advanced Technologies Inc. develops renewable and
environmentally sustainable biomass resources from flax, hemp and
other bast fibers. The Company, through its wholly owned
subsidiary, CRAiLAR® Fiber Technologies Inc., has developed
proprietary technologies for production of bast fibers, cellulose
pulp, and their resulting by-products in collaboration with
Canada's National Research Council. CRAiLAR technology offers
cost-effective and environmentally sustainable processing and
production of natural, bast fibers resulting in increased
performance characteristics for use in textile, industrial, energy,
medical and composite material applications. The Company was
founded in 1998 as a provider of environmentally friendly, socially
responsible clothing. For more information, visit
www.naturallyadvanced.com. Neither the TSX Venture Exchange Inc.
nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release. Forward-Looking
Statement Disclaimer This news release includes certain statements
that may be deemed "forward-looking statements". All statements in
this news release, other than statements of historical facts, are
forward-looking statements. Forward-looking statements or
information are subject to a variety of risks and uncertainties
which could cause actual events or results to differ from those
reflected in the forward-looking statements or information and
including, without limitation, risks and uncertainties relating to:
any market interruptions that may delay the trading of the
Company's shares, technological and operational challenges, needs
for additional capital, changes in consumer preferences, market
acceptance and technological changes, dependence on manufacturing
and material supplies providers, international operations,
competition, regulatory restrictions and the loss of key employees.
In addition, the Company's business and operations are subject to
the risks set forth in the Company's most recent Form 10-K, Form
10-Q and other SEC filings which are available through EDGAR at
www.sec.gov. These are among the primary risks we foresee at the
present time. The Company assumes no obligation to update the
forward-looking statements. To view this news release in HTML
formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/14/c4207.html
p bMedia Contact:/bbr/ Ryan Leverenzbr/ Lew Leverenz Associatesbr/
(415) 999-1418br/ a
href="mailto:ryan.leverenz@gmail.com"ryan.leverenz@gmail.com/a /p p
bInvestor Contact:/bbr/ Rick Anguillabr/ Guidance Counselbr/ (503)
820-3565br/ a
href="mailto:ir@naturallyadvanced.com"ir@naturallyadvanced.com/a /p
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