Executive Team Now Complete, Strategic Business Sectors
Covered
VICTORIA, B.C. and Portland, Ore., March
7, 2012 /PRNewswire/ - Naturally Advanced Technologies Inc.
("NAT" or the "Company") (TSXV: NAT) (OTCBB: NADVF), which produces
and markets CRAiLAR®, a natural fiber made from flax and other bast
fibers, announced that it has made two key hires, thereby
completing its executive team. Steve
Sandroni will join NAT as Vice President, Agriculture, while
Greg Wright has been hired as the
company's Vice President, Strategic Fiber Markets.
"These last two hires round out our management team, and most
importantly, set strategic vision for the two areas of our business
that require aggressive diligence at all times" said Ken Barker, CEO of NAT. "Both Steve and Greg
bring considerable experience and capability to their respective
functions, and, most importantly, are an excellent fit with our
culture and industry"
As Vice President of Agriculture, Sandroni brings more than 34
years of experience working in various aspects of agribusiness to
NAT. Most recently, Sandroni served as Director of Production and
Logistics at Sustainable Oils, where he oversaw the production of
Camelina sativa, a member of the mustard family that is closely
related to canola, for innovative bio-fuel applications such as jet
fuel for the U.S. Navy and Air Force. In that position, he led
campaigns to strengthen Sustainable Oils' relationships with
researchers and contract growers, while building a foundational
commercial production program for camelina throughout the United States and Canada. Sandroni's professional experience
also includes time spent at Monsanto Company, Emergent Genetics
Stoneville, and the Delta and Pine Land Company. His roots in the
industry, though, began as a farmer, growing cotton, rice, and
soybeans in the fertile Mississippi Delta from 1978 to 1990.
"As both a farmer and a businessman, I'm excited to offer NAT's
growing partners access to a crop that can truly change the fiber
industry," said Sandroni. "CRAiLAR flax's potential for market
growth and enacting industry-wide change is unlike anything I've
ever encountered."
Greg Wright has been appointed
Vice President of Strategic Fiber Markets, with an initial focus on
the distribution of secondary fiber and byproducts from the CRAiLAR
decortication platform. Initially, Wright will be looking at
enhancing the margin proposition of byproducts to exceed those
projected in NAT's business planning, while concurrently looking at
new markets in the automobile, composites and packaging industries.
Wright joins NAT from International Paper Company in National
Accounts, Business Development, and Regional Management. He served
in several advisory roles during his 12+ years with IP. He earned
his BA from Denison University in
1990.
"I am thrilled to be a part of the NAT management team," said
Wright. "CRAiLAR is a disruptive technology in the sustainable
fiber markets and to be on the leading edge and contribute to this
company's future will be an exciting journey."
NAT's 2011 business activities included purchasing agreements
with HanesBrands, Georgia-Pacific,
and Brilliant Global Knitwear, along with development agreements
with Levi Strauss & Co., Cintas, Carhartt, Ashland, Westex, and Target. It has developed
the CRAiLAR process, which successfully removes the binding agents
from flax that contribute to its stiff texture, and produces a
fiber that has both the tensile strength and performance benefits
of flax, and the comfort qualities of cotton.
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.
SOURCE Naturally Advanced Technologies Inc.