Shared product development, manufacturing
and
distribution keys to merger synergy
FOR IMMEDIATE RELEASE
Contact: Sean Manne
Vanson HaloSource
(425) 881-6464 smanne@vanson.com
Mark Firmani
(206) 443-9357
Firmani & Associates mark@firmani.com
May 14, 2002
(Redmond, Washington) — Vanson, Inc. and HaloSource Corp.
today announced the completion of a merger to form Vanson HaloSource,
uniting core business functions and scientific expertise to create
innovative products based on Vanson's chitin and chitosan technology
and HaloSource's antimicrobial technology.
"The synergy created by this merger is a case of one-plus-one
equals three," said Jerry Wetherbee, Vanson HaloSource CEO
and former head of Vanson. "We have already seen that the
integration of the talents, resources and best practices of Vanson
and HaloSource is allowing us to leverage our strengths to deliver
exponential benefits to our customers and other stakeholders."
Vanson's offerings are made from chitin, one of the world's most
abundant natural polymers, and chitosan, a derivative of chitin.
Chitin and chitosan, which are refined from crustacean shells,
have unique chemical binding properties that make them useful
in a variety of functions, including healing wounds and clarifying
liquids. Biodegradable and non-toxic, chitin and chitosan have
many water treatment, biomedical, home care, personal care and
other applications.
HaloSource's core N-halamine technology
harnesses the power of chlorine - one of the most broadly used
and effective antimicrobials - to kill all known bacteria, viruses,
fungi and most parasites on solid surfaces and textile fibers.
The technology enhances and prolongs the antimicrobial effectiveness
of chlorine while significantly reducing toxic, carcinogenic
and corrosive by-products in ways that existing products cannot.
"The combination of our technology platforms will bring
incredible synergies to a wide range of markets," said Jeff
Williams, Vanson HaloSource CTO and former CEO and founder of
HaloSource. "We made significant progress with HaloSource's
proprietary technology, and working with Vanson is a powerful
step forward in our drive to bring innovative products to customers."
Vanson HaloSource plans to capitalize on joint manufacturing
facilities and distribution channels to better serve existing
customers in the water purification and clarification, biomedical,
nutritional supplements and cosmetics industries. By combining
the two companies' diversified product and technology portfolios,
Vanson HaloSource will accelerate product improvements to reach
customers in new industries and expand its presence in shared
markets.
Vanson's manufacturing facilities in Raymond, Wash., will accommodate
production of most Vanson HaloSource offerings, allowing for
flexibility, lower production costs and the ability to protect
intellectual property.
Wetherbee said the merger will not initially affect staffing
levels. Instead, he emphasized that experts from both companies
will create a scientifically diverse staff and enhance the company's
ability to generate a broad spectrum of products.
"By bringing together chemists, biochemists and microbiologists,
we will promote intellectual cross-pollination through a truly
dynamic research and development environment," Wetherbee
said. "The merger creates abundant product possibilities
and growth potential to become one of the next large companies
emerging from the Northwest."
The merger joins two diversified product lines and brands including:
Sea-Klear®, Storm-Klear™, Klarify™, ZeroPhos™ and
LipoSan Ultra® from Vanson, and Haloshield®, Halopure® and
Halofresh® from HaloSource.
About Vanson HaloSource:
Vanson HaloSource is a bioscience company that employs chitin/chitosan-
and N-halamine-based technologies to create innovative solutions
for a wide range of customer applications. With facilities in
Redmond and Raymond, Wash., the company combines expertise from
chemists, biochemists and microbiologists to manufacture products
and ingredients to serve the water treatment, biomedical, home
and personal care markets. It leverages cutting-edge processes
to refine chitin and chitosan for water-clarification and various
consumer products. With N-halamine technology, the company is
developing antimicrobial and antiviral filters, coatings and
textiles to purify water and improve sanitation in homes, healthcare
settings and a multitude of environments. The company investors
include Alexander Hutton Venture Partners, as well as other institutional
and private investors.
