PORTLAND, OR, April 14 /CNW/ - Naturally Advanced Technologies Inc.
(NAT) (OTCBB: NADVF) (TSXV: NAT) today announced that it has entered
into a short term CRAiLAR® Flax fiber development agreement with Levi
Strauss & Co. beginning in April 2011 to support evaluation of
processing CRAiLAR flax fiber in woven casual apparel products,
specifically denim and non-denim, bottom and top weight fabrics.
"Levi's and Dockers are the quintessential denim and casual wear
brands," said Ken Barker, CEO of NAT. "We are very excited to be
working with a company like Levi's because it aligns with our broad
strategic goal of identifying and partnering with the most important
brands in categories upon which we believe we can make the greatest
impact. I have great confidence in the ability of CRAiLAR to make a
performance and economic impact for Levi's products."
Last month, the Company announced a 10-year purchasing agreement with
Hanesbrands. This was the first commercialization agreement for its
CRAiLAR flax fiber. Later that month, it announced a short term
purchasing agreement with Georgia-Pacific to further evaluate the use
of CRAiLAR in formed materials.
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
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.
For further information:
Lew Leverenz Associates