Naturally Advanced Technologies and Westex Enter Development Agreement for CRAiLAR Flax Fiber
VANCOUVER, BC and PORTLAND, OR, Sept. 22, 2011 /PRNewswire/ – Naturally
Advanced Technologies Inc. (NAT) (OTCBB: NADVF) (TSXV: NAT) today
announced that it has entered into a short term CRAiLARÂ® 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 WestexÂ® UltraSoftÂ®, UltraSoft ACÂ® and InduraÂ® 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, CRAiLARÂ®
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.
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Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
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.