- CDN $1.0 million order from one of world's largest orange juice producers
- Validates benefits Shine N' Ripe XL brings to citrus growers worldwide
MONTREAL, Dec. 7, 2016 /CNW Telbec/ - Imaflex Inc. ("Imaflex" or the "Corporation") (TSXV: IFX), announces that it has received its first major order from a major citrus producer for Shine N' Ripe XL, a heavy-duty, metalized agricultural mulch film developed to deter citrus greening.
"Today's announcement, from one of the world's largest orange juice producers, not only represents a material sales win for Imaflex, but further validates and acknowledges the unique benefits Shine N' Ripe XL brings to citrus growers worldwide," highlighted Mr. Joe Abbandonato, President and Chief Executive Officer of Imaflex.
This order follows, an initial trial purchase in early 2015 to test Shine N' Ripe XL on new tree plantings at their Florida operations. The results were so convincing they are now moving beyond the study stage. Not only did the metalized film help repel insect infestation through solar reflection, it also increased growth and yield, making it an environmentally-friendly integrated pest management tool.
Citrus greening, a bacterial disease spread by the Asian Citrus Psyllid (ACP) insect, is the most significant threat facing citrus growers. It causes deformed off-flavoured fruits, low yields and eventually tree death. "The unique attributes of Shine N' Ripe XL are well documented in numerous studies," highlighted Mr. Abbandonato. Most recently, a 3.5-year, large-scale field trial conducted by the University of Florida and completed in early 2016 found a clear benefit in controlling insect-vectored diseases, and a big boost in promoting young tree growth and yield using Shine N' Ripe XL. The aforesaid trial by the citrus producer further confirmed these benefits.
About Shine N' Ripe XL
Shine N' Ripe XL is a long-lasting, heavy-duty, metalized agricultural mulch film specifically designed to fight citrus greening, a bacterial disease spread by the Asian Citrus Psyllid (ACP). Common insecticides alone have proven ineffective in managing ACP.
The unique ability of Shine N' Ripe XL to reflect solar UV-light disorients insects, creating confusion between up and down. Not only does it result in a highly-effective insect repellent, the metalized film also enhances growth and yield, while controlling weeds and bringing water preservation benefits. Competing metalized films lose their ultraviolet (UV) reflectivity after 10 months, requiring citrus growers to replace them at least once annually. Imaflex's Shine N' Ripe XL maintains high long-term UV reflectivity for 3 or more years, making it the only economically-viable agricultural film for the management of citrus greening.
About Imaflex Inc.
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 Contact: John Ripplinger, Vice-President Corporate Affairs, Tel: (514) 935-5710, Fax: (514) 935-0264, [email protected], www.imaflex.com