VANCOUVER, Oct. 25, 2016 /CNW Telbec/ - Imaflex Inc. ("Imaflex") (TSXV: IFX) and Kimberly-Clark have been given the "Deal of Distinction Award" in the Chemicals, Energy, Environment & Materials Sector from the Licensing Executives Society (USA and Canada), Inc. (LES) at the LES 2016 annual meeting in Vancouver B.C.
The LES awards are presented annually to promote creative and innovative solutions and recognize the most exceptional IP business deals in four industry sectors, including High Technology; Industry-University-Government Interface; Life Sciences; and Chemicals, Energy, Environment and Materials.
"We take great pride in our partnership with Kimberly-Clark and the recognition received from LES," highlighted Joe Abbandonato, President and Chief Executive Officer of Imaflex. Imaflex has developed proprietary plastic agricultural films, under the ADVASEAL® name, for the controlled release of crop protection products (herbicides, pesticides and fungicides). Under the terms of the licensing agreement, Imaflex receives the rights to use Kimberly-Clark's proprietary flexible superabsorbent binder technology as a coating component for its pesticide control release agricultural films until 2026, when their patent protection expires. Imaflex has also obtained patent protection for ADVASEAL® in the top 20 major vegetable and fruit producing countries until 2032.
"This agreement allows us to concentrate our efforts on the development and commercialization of ADVASEAL®," continued Mr. Abbandonato. "While benefiting from Kimberly-Clark's expertise in superabsorbent coating, we will be able to offer growers a safer, simpler, cost-effective and environmentally-friendly pre-plant soil fumigant alternative faster. As this new class of crop protection film is brought to market, it should have a profound impact on reducing hazardous chemicals by taking spraying, a wasteful and harmful practice for the environment, out of the equation."
"It is gratifying to expand the impact of Kimberly-Clark's innovation into applications where we do not market products," said Pete Dulcamara, vice president of Corporate Research and Engineering for Kimberly-Clark. "Helping other companies make environmentally friendly products like ADVASEAL® fits our mission to lead the world in essentials for a better life, so we are proud to receive this recognition from LES for our work with Imaflex."
Kimberly-Clark and its well-known global brands are an indispensable part of life for people in more than 175 countries. Every day, nearly a quarter of the world's population trust Kimberly-Clark's brands and the solutions they provide to enhance their health, hygiene and well-being. With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend, Kimberly-Clark holds No.1 or No. 2 share positions in 80 countries. To keep up with the latest news and to learn more about the Company's 144-year history of innovation, visit www.kimberly-clark.com or follow us on Facebook and Twitter.
Founded in 1994, Imaflex is focused on the development and manufacturing of innovative solutions for the flexible packaging and agriculture industries. The Corporation's products consist primarily of polyethylene (plastic) film and bags, including metalized plastic film, for the consumer, industrial and agriculture markets. Headquartered in Montreal, Quebec, Imaflex has manufacturing facilities in Canada and the United States. The Corporation's common stock is listed on the TSX Venture Exchange under the ticker symbol IFX. Additional information is available at www.imaflex.com.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes "forward-looking" statements within the meaning of Canadian securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the management of the Corporation, are inherently subject to significant business, economic and competitive uncertainties, risks and contingencies. The Corporation cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Imaflex to be materially different from the Corporation's estimated future results, performance or achievements expressed or implied by those forward-looking statements and that the forward-looking statements are not guarantees of future performance. These statements are also based on certain factors and assumptions. For more details on these estimates, risks, assumptions and factors, see the Corporation's most recent Management Discussion and Analysis filed on SEDAR at www.sedar.com and on the investor section of the Corporation's website at www.imaflex.com. The Corporation disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except as expressly required by law. Readers are cautioned not to put undue reliance on these forward-looking statements.
Neither TSX Venture Exchange 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.
SOURCE Imaflex Inc.
For further information: Imaflex: John Ripplinger, Vice-President Corporate Affairs, Tel: (514) 935-5710, Fax: (514) 935-0264, [email protected], www.imaflex.com