Vystar(r) Corporation Secures Licensing Agreement With Ka Prevulcanised Latex

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29th October 2010, 03:13am - Views: 666





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MEDIA RELEASE PR41938


Vystar(R) Corporation Secures Licensing Agreement with KA Prevulcanised Latex Pvt. Ltd. 

of India


ATLANTA, Oct. 28 /PRNewswire-AsiaNet/ --


            Three-Year Agreement Allows KAPVL to Manufacture and Sell

  Vytex(R) NRL in India, Pakistan, Sri Lanka, Bangladesh, Bhutan and Nepal



    Vystar(R) Corporation (OTC Bulletin Board: VYST), the exclusive creator

of Vytex(R) Natural Rubber Latex (NRL), a multi-patented, all-natural raw

material that contains significantly reduced levels of the antigenic proteins

found in natural rubber latex (NRL), has secured an initial three-year

licensing agreement with KA Prevulcanised Latex Pvt. Limited (KAPVL) of

Nagercoil, Tamil Nadu, India. KAPVL is part of the Ooppoottil Group, India's

largest latex concentrate processor and the country's largest latex glove

producer.



    (Logo: http://www.newscom.com/cgi-bin/prnh/20100203/CL48049LOGO )


    According to the terms of the agreement, KAPVL gains the exclusive rights

to manufacture and sell Vytex NRL as their sole low protein natural rubber

latex in six SAARC (South Asian Association for Regional Cooperation)

countries: India, Sri Lanka, Pakistan, Bangladesh, Bhutan and Nepal. The

initial agreement period is for three years and is tied to specific minimum

sales volumes and quality standards to retain the license and territory

exclusivity.


    India is the second largest consumer of natural rubber behind China and

its consumption of concentrated latex for the production of medical and

consumer goods, Vystar's target markets, is expected to reach 130,000 metric

tonnes in 2010.


    Mr. Praveen Mathew, Director of KAPVL, said, "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."


    William R. Doyle, President and CEO of Vystar Corporation, said, "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."


    About KA Prevulcanised Latex, Ltd.

    KA Prevulcanised Latex Pvt. Ltd., headquartered in Nagercoil, Tamil Nadu,

India, is part of Kurian Abraham Limited/Ooppoottil Group, and is India's

largest latex concentrate processor and the country's largest latex glove

producer. It has two latex manufacturing facilities in Nagercoil and one in

Thodupuzha, Kerala and is fully integrated with rubber plantation holdings

within the states of Tamil Nadu and Kerala. The company's latex, sold under

the KA Latex brand not only has a significant share in the Indian market but

is also exported to countries across the world such as the US, Europe, South

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America, Turkey and Sri Lanka.


    About Vystar Corporation

    Based in Duluth, GA, Vystar (R) Corporation (OTC Bulletin Board: VYST) is

the exclusive creator of Vytex Natural Rubber Latex (Vytex NRL), a

multi-patented, all-natural, raw material that contains significantly reduced

levels of antigenic proteins found in natural rubber latex and can be used in

over 40,000 products. Vytex NRL is a 100% renewable resource, environmentally

safe, "green" and fully biodegradable. Vystar is working with manufacturers

across a broad range of consumer and medical products to bring Vytex NRL to

market in adhesives, balloons, surgical and exam gloves, other medical

devices and natural rubber latex foam mattresses, pillows and sponges. For

more information, visit http://www.vytex.com.


    Forward-looking Statements

    Certain statements in this document are "forward-looking statements"

within the meaning of the Private Securities Litigation Reform Act. These

statements are based on management's current expectations and are subject to

uncertainty and changes in circumstances. Actual results may differ

materially from those included in these statements due to a variety of

factors. More information about these factors is contained in Vystar's

filings with the Securities and Exchange Commission.



    SOURCE: Vystar Corporation


    CONTACT: Adam Holdsworth, IR

             or Laura Colontrelle 

             or Janet Vasquez, PR,

             all of The Investor Relations Group

             +1-212-825-3210


             or Jack Callicutt

             Chief Financial Officer of Vystar Corporation

             +1-770-965-0383 x23


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