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Universal Capital Management Inc. has added to its portfolio Duluth, Ga.-based Vystar Corp., which makes an ultra-low protein natural rubber latex.
Financial terms were not disclosed.
"We are pleased that Vystar has become one of the portfolio companies of Universal Capital Management," said William R. Doyle, Vystar president. "Their belief in our company reinforces our position that Vystar has the potential for the rapid high growth needed to become a publicly traded multinational company. This development, coupled with the support we have gotten for our Vytex NRL product throughout the rubber manufacturing and processing communities, strengthens our vision."
Wilmington, Del.-based Universal Capital Management (OTC BB: UCMT) said the development of Vytex natural rubber latex is "a potential boon for manufacturers as diverse as the makers of balloons, surgical and examination gloves, mattresses, upholstery fabrics, toys, infant supplies and medical equipment. It is particularly critical to the health-care industry where current estimates put the number of health-care workers affected by latex allergies on average at 17 percent."
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