ATLANTA, Jan. 7, 2013 /PRNewswire/ -- Vystar® Corporation (OTCBB: VYST) ("Vystar" or the "Company"), the exclusive creator of Vytex® Natural Rubber Latex (NRL), a multi-patented, all-natural raw material that contains significantly reduced levels of non-rubber particles and proteins found in natural rubber latex, and owner of SleepHealth LLC, a unique provider of sleep health management services to physicians in the southeastern U.S., today announced that the Company, along with Centrotrade Minerals & Metals, Inc. and Centrotrade Deutschland, GmbH., signed an amendment to their current agreement on December 19, 2012, expanding their current distribution relationship to include South East Asia in addition to North America and Europe.
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Centrotrade, a leading distributor of natural rubber and natural rubber latex based products across the globe, has been the exclusive distributor for Vytex NRL raw material since 2009. The recent amendment expands Centrotrade's distribution rights for Vytex NRL into the largest NRL consuming markets in the world, located in South East Asia, specifically Malaysia and Thailand. Centrotrade will control production scheduling of Vytex NRL, inventory, sales, pricing, and customer financing, while Vystar Corporation will focus on its strength of marketing and customized product development support activities.
Bill Doyle, President and CEO of Vystar Corporation, commented "The broadening of our relationship with Centrotrade was a crucial component to the continued expansion of our Vytex NRL raw material division. It brings Vytex NRL to these very large NRL production centers, and allows Vystar to benefit from Centrotrade's extensive industry experience, global industry relationships, logistical expertise, and price hedging experience which should help establish more stable Vytex NRL customer pricing and inventory. Vytex NRL exposure, capacity and brand awareness will increase in these markets, ultimately helping position Vystar for sales growth in the Vytex division moving forward."
He continued, "Over the past three years, Centrotrade has provided invaluable input and consultation in numerous areas relating to the global natural rubber latex market and distribution business. We are excited for them to take an even more active role in our Vytex NRL product and are confident they will afford our new and existing Asian customers with superior service and logistical support that our company and North American and European customers are accustomed to."
Collectively, the Centrotrade rubber and latex management team commented, "Having worked together since 2009 and believing in the advantages of the Vytex NRL raw material product, this is a logical next step in our relationship. We are pleased to expand our global product portfolio to include Vytex NRL, the only natural rubber latex product with significantly reduced proteins and other non-rubber particles, and to help boost global awareness of the benefits that come with using a cleaner form of natural rubber latex. The addition of Vytex NRL helps broaden our product offering to help customers have access to all forms of rubber products to meet their varied needs."
CENTROTRADE DEUTSCHLAND GMBH oversees Centrotrade's entire Rubber and Latex operation. In cooperation with its US based sister company, it provides customers with technical support from employees with decades of polymer and rubber expertise. Sister offices and local agencies are taken care of through their world-wide distribution network. A wide range of products are imported to address customer's needs and are also available for prompt delivery from several storage facilities. In addition to the traditional sources from the Far East they offer a variety of rubbers from other origins.
CENTROTRADE MINERALS & METALS, Inc. aka Centrotrade Rubber USA, Inc. handles Rubber, Natural Rubber Latex, Vytex® NRL, REVERTEX® and Chemicals for Centrotrade organization throughout North America. With headquarters in Chesapeake, VA and offices in Akron, OH and Greensville, SC, the company like its German counterpart, has significant polymer expertise. Centrotrade Minerals & Metals, Inc. provides technical expertise for the Centrotrade organization, which in most cases is freely available to our customers worldwide, and is concentrated in Virginia and South Carolina. Over the past 20 years there's been a fundamental shift in the way rubber is traded. CTR has moved from a single commodity at point of origin to a sophisticated raw material which requires special handling from tree to the finished goods manufacturing plant. Their technical expertise enables them to advise both processor and receiving on ways to tailor-fit or adjust the material to benefit costs.
CTR/CTD's parent company, Raiffeisen Centrobank AG (RCB), member of the Austrian RZB banking group, is the investment bank within the group and ranks among the leading banks in Austria.
Various subsidiaries - originally founded to support their countertrade activities - handle numerous products in the commodity sector. Among these commodities are Natural and Synthetic Rubber, REVERTEX® as well as Natural and Synthetic Latex in Frankfurt, Singapore, and Chesapeake. These subsidiaries are operated by an independent holding company (Centrotrade Holding AG) which is a wholly-owned subsidiary of RCB. To learn more go to www.centrotrade.net
About Vystar Corporation
Based in Duluth, GA, Vystar® Corporation (OTC Bulletin Board: VYST) is owner of SleepHealth, a unique provider of sleep health services and durable medical equipment (DME) to patients of physician clients in the southeastern U.S., and the exclusive creator of Vytex Natural Rubber Latex (Vytex NRL), a multi-patented, all-natural, raw material that contains significantly reduced levels of the 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 and pillows. For more information, visit www.vytex.com and www.sleephealthier.com
Forward-looking Statements: Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of VYST officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future VYST actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and VYST has no specific intention to update these statements.
Howard Gostfrand, President
American Capital Ventures
Joanne Kearney, Vice President of Marketing
770-965-0383 x 21
SOURCE Vystar Corporation