Revised Production Date for CRAiLAR in Pamplico
Facility Adjustments Continue Into New Year
VICTORIA, BC and PORTLAND, OR, Dec. 28, 2012 /PRNewswire/ – CRAiLAR
Technologies Inc. (“CL” or the “Company”) (TSXV: CL) (OTCBB: CRLRF),
which produces and markets CRAiLAR®, a natural fiber made from flax and
other bast fibers, has revised its estimated production start date at
its new Pamplico, S.C. facility from Friday, December 28 to a targeted
timeframe of mid January.
The delay has been attributed to safety and compliance within the water
and fire protection systems in the building. Additional customization
to communications equipment is also being worked on in order to safely
operate the production line. The Company continues to work with the
facility engineers onsite to ensure maximum safety and efficiency in
the newly installed production line, which was commissioned
“While we targeted a start-date prior to the end of the year, we will
not compromise the safety of our team, the investment to-date or
quality of product in order to meet a date that we set internally as a
goal,” said Ken Barker, CEO of CRAiLAR Technologies. “Our on-site
activities continue in earnest, we are targeting mid January and will
provide an update when appropriate.”
About CRAiLAR Technologies Inc.
CRAiLAR® Technologies Inc., previously Naturally Advanced Technologies
Inc., offers cost-effective and environmentally sustainable natural
fiber in the form of flax, hemp and other bast fibers for use in
textile, industrial, energy, medical and composite material
applications. Produced using a fraction of water and chemical inputs
compared with other natural fibers, CRAiLAR Flax is the newest natural
fiber introduction to the market in decades. The Company supplies its
CRAiLAR Flax to HanesBrands, Georgia-Pacific, Brilliant Global
Knitwear, Tuscarora Yarns and Target Corp. for commercial use, and to
Levi Strauss & Co., Cintas, Carhartt, Ashland, PVH Corp. and Lenzing
for evaluation and development. The Company was founded in 1998 as a
provider of environmentally friendly, socially responsible clothing.
For more information, visit www.crailar.com.
ADVISORY: This press release contains forward looking statements which may
include statements concerning completion of any proposed acquisitions,
capital programs, debt, funds flow from operations, and the anticipated
use of the net proceeds of the Private Placement. Although CL believes
that the expectations reflected in these forward looking statements are
reasonable, undue reliance should not be placed on them because CL can
give no assurance that they will prove to be correct. Since forward
looking statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. Any proposed
acquisition may not be completed if required approvals or some other
condition to closing is not satisfied. Accordingly, there is a risk
that any proposed acquisition or offering will not be completed within
the anticipated time or at all. The intended use of the net proceeds of
the Private Placement by CL might change if the board of directors of
CL determines that it would be in the best interests of CL to deploy
the proceeds for some other purpose.
The forward looking statements contained in this press release are made
as of the date hereof and CL undertakes no obligations to update
publicly or revise any forward looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
SOURCE Crailar Technologies Inc.