Brilliant Global Knitwear Signs 1.5 MM Pound Purchasing Agreement for CRAiLAR Flax Fiber From Naturally Advanced Technologies
26 September 2011 - 1:24AM
PR Newswire (Canada)
VANCOUVER AND PORTLAND, OR, Sept. 27, 2011 /CNW/ - Naturally
Advanced Technologies Inc. (NAT) today announced that it has
entered into a purchasing agreement for a minimum of one and a half
million pounds of CRAiLAR® Flax fiber with Brilliant Global LTD,
the Hong Kong-based private label knitwear manufacturer which
produces a broad spectrum of sweater and accessory items in natural
fibers for globally recognized brands. The agreement is to commence
in October 2011. "This agreement represents our third purchasing
agreement since March and brings our total client roster to seven
global brands," said Ken Barker, CEO of NAT. "Brilliant works with
the most recognizable brands and retailers in North America and we
intend to demonstrate the significant capabilities of CRAiLAR Flax
to perform seamlessly within its portfolio, while integrating a
sustainable, all-natural fiber into its textile mix and its
consumer product story." Since March 2011, NAT has signed
development or purchasing agreements with HanesBrands,
Georgia-Pacific, Levi Strauss & Company, Cintas Corporation,
Ashland Inc., and Westex Inc. 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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