UPDATE: Revised Production Date for CRAiLAR in Pamplico; Shrs Down Near 3%
CRAiLAR Technologies Inc. (CL.V), which produces and markets CRAiLAR, a natural fiber made from flax and other bast fibers, late Friday said it has revised its estimated production start date at its new Pamplico, S.C. facility from Friday, December 28 to a targeted timeframe of mid January. Its shares have dropped nearly 3% today.
It said the delay has been attributed to safety and compliance within the water and fire protection systems in the building. Additional customization to communications equipment is also being worked on in order to safely operate the production line. The company continues to work with the facility engineers onsite to ensure maximum safety and efficiency in the newly installed production line, which was commissioned mid-December.
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