CRAiLAR Flax to be Introduced in Domestic
Goods
VICTORIA AND PORTLAND,OR,
July 18, 2012 /CNW/ - 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 it has
commenced delivery of an initial 100,000 pounds of fiber to retail
partner Target's designated vendor. It will be introduced in
domestic goods available at retail in Spring 2013. The original
agreement, announced December 1,
calls for two years of exclusivity in the category, and for
Target's evaluation of CRAiLAR Flax in a number of products
including sheets, top of bed, shower curtains, window treatments,
table linens, decorative pillows, towels, and more.
"Target has been an exemplary partner - quick to identify the
performance characteristics of CRAiLAR, and collaborative about
developing an ingredient brand strategy that makes sense for its
product line," said Ken Barker,
Chief Executive Officer, Naturally Advanced Technologies. "We
believe this partnership and its retail execution will set a strong
benchmark going forward for how we would like to see our go to
market strategy executed."
Target is the first vertically integrated retailer to partner
with NAT, which will allow the companies to quickly develop product
and marketing strategies aligned with their priority of tapping
into consumer demand for sustainability.
NAT today supplies its CRAiLAR Flax to HanesBrands, Georgia-Pacific, and Brilliant Global Knitwear
for commercial use, and to Levi Strauss & Co., Cintas,
Carhartt, Ashland, Westex, Target
and PVH Corp for evaluation and development. NAT is in construction
on its first full-scale production facility in Pamplico, South Carolina, and anticipates it
will be delivering fiber from the facility in Q3 2012. It will
partner with Tintoria Piana and
Barnhardt Manufacturing on the processing of that fiber. The
Company's current fiber is being produced at its pilot facility in
nearby Kingstree, South
Carolina.
About Naturally Advanced Technologies Inc. Naturally
Advanced Technologies Inc., 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. It's renewable and environmentally
sustainable biomass resources from flax, hemp and other bast fibers
offer cost-effective and environmentally sustainable processing and
production, along with 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 DisclaimerThis 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 NAT'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,
NAT's business and operations are subject to the risks set forth in
its 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. NAT assumes
no obligation to update the forward-looking statements.
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SOURCE Naturally Advanced Technologies Inc.