Published: February 02, 2011
Bayer CropScience and Olah Inc. Sign Unique Licensing Agreement on Cotton Brands FiberMax and Stoneville®
MONHEIM, Germany - (BUSINESS WIRE) - Bayer CropScience and New York-based textile and apparel company Olah
Inc. have signed a licensing agreement to use the Bayer CropScience
cotton brand names FiberMax and Stoneville. Under
this ten-year agreement, Olah has been granted an exclusive license to
develop and market the two brands for apparel and home furnishings. The
agreement covers initially North America, Mexico and Japan and can be
extended to more countries. It also includes the right to sublicense the
brand names to other manufacturers. Financial details of the agreement
were not disclosed.
Both FiberMax and Stoneville cotton brands are well-known in the cotton
and apparel industries, and each offers a unique quality profile that is
appealing to different segments of the textile industry. FiberMax is
high quality, long-staple upland cotton mainly grown in the United
States that is ideally suited for finished goods that require finer
yarns for manufacturing. Such products include t-shirts, chinos, towels
and bedsheets. Stoneville cotton is strong and suitable for use in
heavier weight fabrics and apparel including rugged outdoor work, sports
and casual wear such as jeans.
As a result of this agreement, for the first time, consumers will be
able to purchase cotton garments or home furnishing goods labeled as
manufactured with FiberMax or Stoneville cotton. This branding approach
will benefit consumers in two major ways. Firstly, consumers will know
immediately that the fabrics have been manufactured from high-quality
cotton fiber. Secondly, FiberMax and Stoneville goods will be identified
with cotton growers from different areas, answering the consumer's
growing desire for information about the origin of the products they buy.
"Together, Olah Inc. and Bayer CropScience will create a unique
connection between cotton producers, spinners, merchants, textile
manufacturers, retailers and consumers," said Joachim Schneider, Head of
the BioScience business group at Bayer CropScience. "And Bayer
CropScience will continue to invest heavily in growing its cotton
business, including new research and development innovations targeted at
improving fiber quality, yields and stress tolerance."
"This agreement provides us with the means to develop new products for
today's consumers using best-in-class technology, production techniques
and style," said Olah Inc.'s CEO Andrew Olah. "At the same time it
grants us the ability to document the origin of the cotton used in our
apparel and home furnishing products on a mass scale, thus providing
consumers with transparency that is revolutionary in today's apparel
business."
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of
health care, nutrition and high-tech materials. Bayer CropScience AG, a
subsidiary of Bayer AG with annual sales of about EUR 6.5 billion
(2009), is one of the world's leading innovative crop science companies
in the areas of crop protection, non-agricultural pest control, seeds
and traits. The company offers an outstanding range of products and
extensive service backup for modern, sustainable agriculture and for
non-agricultural applications. Bayer CropScience has a global workforce
of 18,700 and is represented in more than 120 countries. This and
further news is available at: www.press.bayercropscience.com.
About Olah Inc.
Founded in 1959, Olah Inc. is a global textile and apparel development
and marketing firm with offices in New York, Los Angeles and Hong Kong.
Supported by dozens of experienced cotton, textile and apparel
professionals, Olah Inc. consults to textile companies, retail and
apparel brands throughout the world, and also created and hosts the
internationally-renowned Kingpins Show. To learn more about Olah Inc,
visit www.olahinc.com.
On the expert´s phone Monty Christian, US Director of Marketing
FiberMax Cotton Seed, is available at +1 919-549-2030 from 2 pm until 3
pm CET. (8 am until 9 am Eastern Standard Time).
Find more information at www.bayercropscience.com.
Forward-Looking Statements
This release may contain forward-looking statements based on current
assumptions and forecasts made by Bayer Group or subgroup management.
Various known and unknown risks, uncertainties and other factors could
lead to material differences between the actual future results,
financial situation, development or performance of the company and the
estimates given here. These factors include those discussed in Bayer's
public reports which are available on the Bayer website at www.bayer.com.
The company assumes no liability whatsoever to update these
forward-looking statements or to conform them to future events or
developments.
Bayer CropScience
US: Beth Roden, +1 919-549-2030
beth.roden@bayer.com
or
All
other countries: Richard Breum, +49 2173 38-3270
richard.breum@bayer.com
or
Olah
Inc
Robert Antoshak, +1 615-512-5346
rantoshak@olah.com
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