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Published in House and Home on Tuesday, June 7th 2011 at 3:40 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
Naturally Advanced Technologies and Cintas Corporation Enter Into Development Agreement for CRAiLAR Flax Fiber in the Corporate Identity Uniform Market
Naturally Advanced Technologies and Cintas Corporation Enter Into Development Agreement for CRAiLAR Flax Fiber in the Corporate Identity Uniform Market
PORTLAND, OR and VANCOUVER, BC, June 7, 2011 /PRNewswire/ - [ 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 [ Cintas Corporation ] (NASDAQ: CTAS) beginning June 2011 to support evaluation of processing CRAiLAR flax fiber in corporate identity uniform programs.
"Cintas is the leading uniform brand in the U.S. and we are looking forward to supporting their manufacturing processes," said Ken Barker, CEO of NAT. "This agreement is further validation that NAT promises a significant impact for global corporations from both a sustainability and performance standpoint. We look forward to showing Cintas how CRAiLAR can perform across its product categories."
Based on previous testing, the companies expect CRAiLAR Flax fiber to deliver increased durability and longevity to the uniform market due to the tensile strength of CRAiLAR. In addition, CRAiLAR's ability to wick moisture should provide users of Cintas uniforms a more comfortable uniform to wear in hot summer months.
Since March, NAT has announced a 10-year purchasing agreement with Hanesbrands, along with development agreements with Georgia-Pacific and Levi's. Hanes represented the first commercialization agreement for its CRAiLAR flax fiber. They anticipate further marketing plans for Hanes to be announced later this year.
About Cintas:
Headquartered in Cincinnati, Ohio, Cintas Corporation provides highly specialized services to businesses of all types. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services to approximately 800,000 businesses. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS, and is a component of the Standard & Poor's 500 Index.
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'sNational 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 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.
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