(Dallas, TX. – October 4, 2011) StockGuru Shines its Spotlight on Naturally Advanced Technologies Inc. (OTCBB: NADVF) (TSX-V: NAT). Yesterday the Company announced that it has entered into a short term CRAiLAR® Flax fiber development agreement with Carhartt beginning in September 2011 to support evaluation of processing CRAiLAR Flax fiber in premium grade work wear. The Company closed on October 3, 2011, at $2.03, up 4.1 percent, trading in a fifty-two week range of $4.50 – 0.6329.
“Carhartt aligns perfectly with our current portfolio and we are excited to add them to our growing mix of partner brands,” said Ken Barker, CEO of NAT. “Our testing to-date has demonstrated significant qualities that will be beneficial to the work wear market, including increased tensile strength, reduced shrinkage and high dye uptake that can reduce chemical usage. Perhaps most important is CRAiLAR’s ability to wick moisture, which provides Carhartt with a performance advantage by ensuring consumers stay cooler in hot summer months. We look forward to demonstrating this during our development period with Carhartt.”
Since March, NAT has signed development or purchasing agreements with HanesBrands, Georgia-Pacific, Levi Strauss & Company, Cintas Corporation, Ashland Inc., Westex, and Brilliant Global Knitwear.
About Carhartt, Inc
Established in 1889, Carhartt is a global premium work wear brand with a rich heritage of developing rugged apparel for workers on and off the job. Headquartered in Dearborn, Mich., with approximately 3,600 employees worldwide, Carhartt is privately owned and managed by the descendants of the company’s founder, Hamilton Carhartt. For more information, visit www.carhartt.com.
About 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’s National 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.
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