PTS Products International Inc. a wholly owned subsidiary of PTS Inc. announces that the company has successfully negotiated a definitive agreement with Glove Box Inc. for the exclusive marketing, manufacturing and distribution of the Glove Box in China for worldwide use. The agreement is effective immediately.
The patented, revolutionary Glove Box is the only product that offers contamination reduction through automated glove dispensing. The prototype Glove Box system, a free-standing dispenser of disposable latex gloves, is under development now. The Glove Box is designed for targeting sterile, protective and clean room environments, and the applications are numerous, including the healthcare industry, dental industry, laboratories, health and beauty applications, manufacturing, food service and others. In 2002 the worldwide market for this single-use product was 38 billion glove sets.
China´s recent accession into the World Trade Organization has greatly liberalized the rules relating to U.S. ownership interests in Chinese companies and technologies. PTS Inc. intends to continue using its contacts and experience in this major market to identify leading Chinese companies that either have a product or technology that PTS Inc. could assist in its marketing and distribution, or that desires a U.S. presence in which PTS Inc. could use its publicly traded status as it relates to possible acquisition/spin-outs in ways that significantly benefit both these companies and PTS shareholders.
For more information, please visit the site at www.ptspi.com
