PORTLAND, OR, April 27 /PRNewswire-FirstCall/ - Naturally
Advanced Technologies Inc. (NAT, OTCBB: NADVF, TSXV: NAT) and
Hanesbrands Inc. (NYSE: HBI) jointly reviewed the results of the
CRAiLAR(R) Organic Fibers spinning trials and have agreed to enter
the final stage of their joint development agreement, which is
expected to result in a commercialization agreement in the near
future.
As announced on Monday, April
19th, NAT completed its full scale commercial processing
trials in Germany and replicated
the trials at the G.J. Littlewood & Son processing facility in
Pennsylvania. Spinning trials,
which were conducted at Patrick Yarns in Kings Mountain, NC, verified the commercial
quality and volume capabilities of CRAiLAR Organic Fiber to be spun
with finer yarn weights blended with 80% cotton and 20% CRAiLAR
Organic Fiber.
"The CRAiLAR Organic Fibers trial results exceeded our
expectations, and we are eager to move forward to determine the
size and scope necessary for volume production," said Mike Faircloth Senior Vice President , Global
Supply Chain Support of Hanesbrands Inc. "The impressive
characteristics of CRAiLAR Organic Fibers could potentially deliver
both economic and environmental benefits to our knit apparel
offerings."
Ken Barker, CEO of Naturally
Advanced Technologies Inc. stated, "Our successful commercial
quality and volume spinning trials have solidified the
commercialization potential for CRAiLAR Organic Fibers. We will be
working closely with Hanesbrands to conduct a consumer and economic
analysis, including the development of a commercially viable supply
chain, economic, marketing and branding strategies, which will
determine the scale necessary to produce CRAiLAR at commercial
levels. Following this analysis, we expect to finalize a
commercialization agreement. We are well on our way to achieving
full blown production of CRAiLAR in 2010."
Originally announced on August 4,
2009, NAT and Hanesbrands, Inc. entered a multi-phase joint
development agreement to commercialize CRAiLAR Organic Fibers,
allowing CRAiLAR Organic Fiber technology to be processed for use
in commercial apparel knit products made by Hanesbrands.
About Naturally Advanced Technologies Inc.
Naturally Advanced Technologies Inc. is committed to unlocking
the potential of renewable and environmentally sustainable biomass
resources from hemp and other bast fibers. The company, through its
wholly owned subsidiary, Crailar Fiber Technologies Inc., is
developing proprietary technologies for production of bast fibers,
cellulose pulp, and their resulting by-products, in collaboration
with Canada's National Research Council and the Alberta Research
Council. Crailar(R) technology offers cost-effective and
environmentally sustainable processing and production of natural,
bast fibers such as hemp and flax, 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 and adheres to a "triple bottom line"
philosophy, respecting the human rights of employees, the
environmental impact of the company's operations and fiscal
responsibility to its shareholders. See
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 release.
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.