Vystar plans merger with Malaysian glove maker

ERJ staff report (DS)

Atlanta, Georgia -- Vystar Corp. has signed a Letter of Intent (LOI) to merge with EcoGlove Asia Pacific Sdn Bhd. The proposal is nonbinding and subject to the satisfactory completion of due diligence by both Vystar and EcoGlove, which is currently underway. Terms of the merger have not been finalised; however, both parties said they are working toward completion by September 30, 2011.

EcoGlove, headquartered in Sabah, Malaysia, makes reusable medical gloves under the "Tr@ce" name and provides reprocessing technology to their clients that enables Tr@ce gloves to be used multiple times.

Bill Doyle, Vystar Chairman and Chief Executive Officer, commented: "EcoGlove is aligned with our philosophy of providing quality, cost-efficient, and environmentally sustainable solutions for our clients. We have had the opportunity to work closely with EcoGlove as a Vytex NRL customer, and we value their business model.

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Press release from Vystar