Wilshire, DuPont in PU glove deal

CARLSBAD, Calif. (Oct. 17)—Wilshire Technologies Inc. and Du Pont Co. are planning to jointly develop a polyurethane glove for cleanroom applications, under a five-year agreement the firms signed Oct. 11, Wilshire said. DuPont´s Lycra PU fiber business will develop and supply proprietary polyurethane material to Wilshire, which will use the material to manufacture and sell a disposable glove for industrial cleanroom uses. Wilshire will purchase all of its PU requirements from DuPont through 2005 and will be allowed to market the new polyurethane glove under the Lycra trademark. As part of the deal, Wilshire also granted DuPont the option to purchase up to 2 million shares of its common stock at 50 cents a share.