VANCOUVER, Oct. 25, 2016 /CNW Telbec/ - Imaflex Inc.
("Imaflex") (TSXV: IFX) and Kimberly-Clark have been given the
"Deal of Distinction Award" in the Chemicals, Energy, Environment
& Materials Sector from the Licensing Executives Society
(USA and Canada), Inc. (LES) at the LES 2016 annual
meeting in Vancouver B.C.
The LES awards are presented annually to promote creative and
innovative solutions and recognize the most exceptional IP business
deals in four industry sectors, including High Technology;
Industry-University-Government Interface; Life Sciences; and
Chemicals, Energy, Environment and Materials.
"We take great pride in our partnership with Kimberly-Clark and
the recognition received from LES," highlighted Joe Abbandonato, President and Chief Executive
Officer of Imaflex. Imaflex has developed proprietary plastic
agricultural films, under the ADVASEAL® name, for the controlled
release of crop protection products (herbicides, pesticides and
fungicides). Under the terms of the licensing agreement,
Imaflex receives the rights to use Kimberly-Clark's proprietary
flexible superabsorbent binder technology as a coating component
for its pesticide control release agricultural films until 2026,
when their patent protection expires. Imaflex has also
obtained patent protection for ADVASEAL® in the top 20 major
vegetable and fruit producing countries until 2032.
"This agreement allows us to concentrate our efforts on the
development and commercialization of ADVASEAL®," continued Mr.
Abbandonato. "While benefiting from Kimberly-Clark's
expertise in superabsorbent coating, we will be able to offer
growers a safer, simpler, cost-effective and
environmentally-friendly pre-plant soil fumigant alternative
faster. As this new class of crop protection film is brought
to market, it should have a profound impact on reducing hazardous
chemicals by taking spraying, a wasteful and harmful practice for
the environment, out of the equation."
"It is gratifying to expand the impact of Kimberly-Clark's
innovation into applications where we do not market products," said
Pete Dulcamara, vice president of Corporate Research and
Engineering for Kimberly-Clark. "Helping other companies make
environmentally friendly products like ADVASEAL® fits our mission
to lead the world in essentials for a better life, so we are proud
to receive this recognition from LES for our work with
Imaflex."
About Kimberly-Clark
Kimberly-Clark and its well-known
global brands are an indispensable part of life for people in more
than 175 countries. Every day, nearly a quarter of the
world's population trust Kimberly-Clark's brands and the solutions
they provide to enhance their health, hygiene and well-being.
With brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and
Depend, Kimberly-Clark holds No.1 or No. 2 share positions in 80
countries. To keep up with the latest news and to learn more
about the Company's 144-year history of innovation, visit
www.kimberly-clark.com or follow us on Facebook and Twitter.
About Imaflex
Founded in 1994, Imaflex is focused on
the development and manufacturing of innovative solutions for the
flexible packaging and agriculture industries. The
Corporation's products consist primarily of polyethylene (plastic)
film and bags, including metalized plastic film, for the consumer,
industrial and agriculture markets. Headquartered in
Montreal, Quebec, Imaflex has
manufacturing facilities in Canada
and the United States. The Corporation's common stock is
listed on the TSX Venture Exchange under the ticker symbol IFX.
Additional information is available at www.imaflex.com.
Cautionary Statement on Forward Looking Information
Certain information included in this press release constitutes
"forward-looking" statements within the meaning of Canadian
securities laws. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while
considered reasonable by the management of the Corporation, are
inherently subject to significant business, economic and
competitive uncertainties, risks and contingencies. The
Corporation cautions the reader that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause the actual financial results, performance or
achievements of Imaflex to be materially different from the
Corporation's estimated future results, performance or achievements
expressed or implied by those forward-looking statements and that
the forward-looking statements are not guarantees of future
performance. These statements are also based on certain
factors and assumptions. For more details on these estimates,
risks, assumptions and factors, see the Corporation's most recent
Management Discussion and Analysis filed on SEDAR at
www.sedar.com and on the investor section of the
Corporation's website at www.imaflex.com. The
Corporation disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
events or otherwise, except as expressly required by law.
Readers are cautioned not to put undue reliance on these
forward-looking statements.
Neither TSX Venture Exchange 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.
SOURCE Imaflex Inc.