Vystar® Corp., creators of a reduced allergenic material (Vytex® Natural Rubber Latex – NRL) to replace standard latex, has secured an initial three-year licensing agreement with KA Prevulcanized Latex Pvt. Ltd (KAPVL), India’s largest latex glove producer. The agreement gives KAPVL sole rights to produce and sell Vytex NRL in six countries (India, Pakistan, Sri Lanka, Nepal, Bangladesh, and Bhutan). The initial agreement period is for three years and calls for specific minimum sales and quality standards to retain the license and territory exclusivity.
Vystar President and CEO, William Doyle, commented on the significance of the agreement to the company. “This license Agreement allows Vystar access to a protected market where the duties for imported latex raw material hover around seventy percent. There is a large manufacturing base for latex products, including gloves, condoms, and foam, in India and its neighbors. India is a magnet for leading US and European manufacturers, and has recently been ranked ninth among all countries in industrial production worldwide and has surpassed the U.S. in latex consumption. Consequently, we have very positive expectations as KAPVL begins to immediately manufacture and sell Vytex in this part of the world.”
KAPVL Director, Mr. Praveen Mathew, added, “We are confident that our agreement with Vystar will work to the benefit of both companies. We at KAPVL have been impressed with the quality and versatility of Vytex, and we believe there is a significant market for Vytex NRL waiting to be tapped in a region with burgeoning growth.”
Based in Duluth, Georgia, Vystar produces a multi-patented all-natural, and environmentally safe latex material, containing significantly reduced levels of the antigenic proteins found in standard rubber latex. The product is already on the market in Envy™ Ultra Thin NRL condoms from Alatech Healthcare, and is now being evaluated for use in dozens of other consumer and medical applications.
For more information, visit www.vytex.com.
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