Hemptown Clothing changes name, forms subsidiaries

23 Mar '06

2 min read

Clothing retailer Hemptown Clothing Inc has announced the formation of two new subsidiaries and change in the company's name to Naturally Advanced Technologies Inc.

The two new subsidiaries are Crailar Fiber Technologies Inc and Hemptown Clothing and both will operate under the parent company, Naturally Advanced Technologies.

Crailar Fiber Technologies was formed to produce high-tech, high-strength natural fiber for the textile and composite industry. Hemptown Clothing, the company's legacy business, is a leader in the production of eco-friendly fiber garments for the sportswear industry with its HT Naturals division.

Jerry Kroll, CEO said, "Our name change to Naturally Advanced Technologies and the addition of the two new subsidiaries reflects our strategic decision to focus on the development and commercialization of Crailar."

“Crailar is a new biotech enzyme process we have developed in collaboration with the Canadian Government National Research Council and the Alberta Research Council, which has the potential to significantly change the production of textile best fibers such as hemp, bamboo and flax and to replace composite fibers, including glass. As such, Crailar expands our target markets beyond our traditional served market of hemp blend fabrics into industries such as apparel, medical and hospitality textiles, and auto, marine and airplane parts.

“Naturally Advanced Technologies represent the next step in the evolutionof our company and our energies are now focused on capitalizing on the significant growth opportunity Crailar presents," he added.

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