VICTORIA, BC and PORTLAND, OR, April 9, 2012 /PRNewswire/ - Naturally Advanced Technologies Inc. ("NAT" or the "Company") (TSXV: NAT) (OTCBB: NADVF), which produces and markets CRAiLAR®, a natural fiber made from flax and other bast fibers, announced that it has entered into a short term CRAiLAR Flax fiber development agreement with PVH Corp (NYSE: PVH), one of the largest global apparel companies. The agreement begins this month to support evaluation of processing CRAiLAR Flax fiber in dress and sports shirt lines, including Calvin Klein , Tommy Hilfiger , its branded Van Heusen , IZOD, ARROW and Bass.
"PVH's focus on dress shirts, an apparel category with one of the highest thread counts in the industry, will provide a fantastic opportunity for us to demonstrate the performance range of CRAiLAR Flax fiber," said Ken Barker, Chief Executive Officer, NAT. "We anticipate that previous testing - which showed increased tensile strength, reduced shrinkage, increased dye uptake, and moisture wicking properties that can keep consumers cool - will reveal performance advantages in this category."
Under PVH's corporate environmental policy, it has stated that it is exploring measures to decrease environmental impact with respect to water usage, wastewater treatment, hazardous chemical output and overall progressive environmental stewardship within its supply chain, by seeking vendors aligned with those goals.
"We are excited about the prospect of integrating this new all-natural fiber into our products," said Emanuel Chirico, Chairman and Chief Executive Officer, PVH Corp. "We enter this agreement with the belief that CRAiLAR can move us closer to our goals of progressive environmental standards, including responsible water usage overall, and significant reduction in hazardous chemical waste in water, air and inputs from farmland to finished products."NAT's proprietary CRAiLAR process produces a soft natural flax-based fiber that can be blended with cotton, wool and other natural fibers at varying levels. Its production and manufacturing typically allows partner brands to significantly reduce water usage, chemical usage at both the agriculture and manufacturing stages, and reduce shrinkage, allowing for more raw materials to be used for more product. Each of these characteristics allow its partners to further demonstrate their commitment to sustainability without sacrificing quality of construction nor consumer experience.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV