Imaflex Receives First Commercial Order For Innovative Agriculture Film
Nov 18, 2014, 07:55 ET
MONTREAL, Nov. 18, 2014 /CNW Telbec/ - Imaflex Inc. (TSXV: IFX) is pleased to announce the successful market launch of its Shine N' Ripe XL, a long lasting metalized agricultural mulch film, specifically designed for the citrus industry to repel citrus greening transmitting insects. The first bulk order comes from a large Brazilian citrus producer serving international orange juice producers headquartered in North America.
"We are very pleased that Shine N' Ripe XL has been acknowledged by one of the leading citrus producer in the world as a premium product for the protection against the devastating citrus greening disease," commented Dr. Ralf Dujardin, Imaflex's Vice President of Marketing and Innovation. "We anticipate that other major citrus growers soon will also start using Shine N' Ripe XL as part of their integrated pest management approach to protect their citrus groves."
Joseph Abbandonato, Imaflex's CEO added, "It is foreseeable that Shine N' Ripe XL could become the industry standard, non chemical approach, for the management of citrus greening. It should also become a healthy contributor to our improving financial performance."
Citrus greening is a bacterial disease, spread by the Asian Citrus Psyllid (ACP) that causes trees to drop their fruit prematurely. Over the past decade citrus greening is estimated to have destroyed 25% of the globe's citrus crops. Common insecticides have proven ineffective in managing ACP, so Imaflex, along with its academic and industry partners, has been at the forefront of developing alternative approaches to control citrus greening.
Shine N' Ripe XL is long lasting metalized mulch film that can maintain high ultraviolet (UV) reflectivity for 3 to 5 years. Metalized film with UV reflectivity of 80% or more has been proven to be a highly effective insect deterrent, including for ACP, while also providing weed control and water preservation benefits. Current metalized films lose their reflectivity after 10 months, requiring citrus growers to replace them at least once annually. Imaflex's Shine N' Ripe XL has proven in field tests, run by the University of Flordia – IFAS, it can maintain its performance for 3 or more years. This makes Shine N' Ripe XL the only economically viable agricultural film for the management of citrus greening.
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.
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. 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.
SOURCE: Imaflex Inc.
For further information: Imaflex Inc., Joseph Abbandonato, President and C.E.O, Giancarlo Santella, CPA, CA - Corporate Controller, Tel: (514) 935 - 5710, Fax: (514) 935 - 0264, e-mail: [email protected], Website: www.imaflex.com
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