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BRIEF-Crailar Technologies says will begin licensing its flax and hemp fiber technology and will no longer operate its Belgium fiber production facility

Published 2015-09-03, 09:10 a/m
© Reuters.  BRIEF-Crailar Technologies says will begin licensing its flax and hemp fiber technology and will no longer operate its Belgium fiber production facility

Sept 3 (Reuters) - Crailar Technologies Inc CL.V :
* Says will begin licensing its flax and hemp fiber technology and will no
longer operate its Belgium fiber production facility
* Says entered into a licensing agreement and will re-aquire the Belgium plant
* Says schrurs nv will pay Crailar a licensing fee determined as a percentage
of gross revenue
* Says estimates that it will record a non-cash restructuring charge of $2.5
million, associated with the transaction
* Schrurs will re-acquire its former plant by assuming approximately $0.74
million of debt and leasing certain assets owned by Crailar
* Says schrurs will contract manufacture fiber for Crailar

* Source text for Eikon ID:nCNWSKBXWa

* Further company coverage CL.V

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