Naturally Advanced Technologies and Westex Enter Development Agreement for CRAiLAR Flax Fiber
20 September 2011 - 12:55PM
PR Newswire (Canada)
VANCOUVER, BC and PORTLAND, OR, Sept. 22, 2011 /CNW/ - Naturally
Advanced Technologies Inc. (NAT) today announced that it has
entered into a short term CRAiLAR® Flax fiber development agreement
with Westex Inc., the premier manufacturer of flame resistant and
arc rated protective clothing fabrics. The development agreement
begins in September 2011 to support evaluation of processing
CRAiLAR Flax fiber for Westex products used in electrical
maintenance, electric and gas utilities, oil, gas, petrochemical,
chemical, military, and ferrous metals industries. "With Westex, we
have an opportunity to evaluate CRAiLAR as an apparel and uniform
ingredient across a number of industrial and municipal categories
where flame resistance is critical," said Ken Barker, CEO of NAT.
"This agreement is a logical progression of our previously
announced development agreement in the work wear category, and
further illustrates the diverse industry applications of CRAiLAR
Flax fiber and its potential to enhance performance in those
categories." Since March 2011, NAT has signed development or
purchasing agreements with HanesBrands, Georgia-Pacific, Levi
Strauss & Company, Cintas Corporation, and Ashland Inc. About
Westex Inc. Established in 1919, Westex has more than 50 years of
experience in the manufacturing of flame resistant fabrics. It is
the premier manufacturer of cotton and cotton-blended flame
resistant and arc rated protective clothing fabrics which include
Westex® UltraSoft®, UltraSoft AC® and Indura® fabrics. It is
headquartered in Chicago, Ill. and can be found online at
www.westex.com. About 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. Naturally Advanced Technologies Inc.
CONTACT: Media Contact:Ryan LeverenzLew Leverenz Associates(415)
999-1418ryan.leverenz@gmail.comInvestor Contact:Rick
AnguillaGuidance Counsel(503)
820-3565ir@naturallyadvanced.comCorporate Officer:Guy
PrevostCFO(866) 436.7869ir@naturallyadvanced.com
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