Duluth-based Vystar Corp. said Thursday it will merge with Malaysian-headquartered specialty glove manufacturer EcoGlove Asia Pacific. Terms of the deal, which is to be completed by Sept. 30, were not announced.
Vystar is the maker of Vytex Natural Rubber Latex, a patented material that has reduced amounts of the natural proteins in latex that cause allergic reactions in some people. It is used in products including balloons, adhesives, surgical and exam gloves, mattresses, pillows and sponges.
Bill Doyle, Vystar chairman and chief executive officer, said his company has been working with EcoGlove for two years and the deal will provide it with business synergies through the combination of technology, distribution and management.
EcoGlove manufactures reusable medical gloves and provides the reprocessing technology to customers that allows them to use the gloves multiple times safely. EcoGlove is a current customer of Vystar and features gloves made with Vytex.
Vystar, which was founded in 2001 and focused mainly on research and development through 2007, has four employees in Duluth. The company reported revenue of $862,000 last year and a net loss of $3.2 million.
