Bayer CropScience and Olah Inc. sign unique licensing agreement on cotton brands FiberMax® and Stoneville®
Monheim (February 2, 2011 ) — 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.”
Press Release #: USA-BCS-2011-0067
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.
US: Beth Roden, phone: +1 919 549-2030
All other countries: Richard Breum, phone: +49 2173 38-3270
Olah Inc: Robert Antoshak, phone: +1 615 512 5346
On the expert´s phone Monty Christian, Director, Global Fiber Marketing; Director, US Cotton Operations, 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.
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.