Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that it received five purchase orders totaling $450,000 from an existing customer in India for Cereplast Compostables® blown film resins. Each purchase order totals $90,000 and will be delivered throughout the remainder of 2013. The bioplastic resins will be used for the manufacturing of single-use disposable bags for distribution in the Sri Lankan and Middle Eastern markets.
The new purchase orders represent Cereplast’s continued growth and expansion in the Asian market. As the world’s third largest consumer of conventional plastics, India suffers from a plastic pollution problem and has taken steps to help better safeguard the environment. Regulations surrounding plastic bags continue to gain momentum and legislation banning the use of plastic bags has already gone into effect in multiple regions.
Cereplast is well positioned to meet increasing demand for plastic alternatives in India with its range of proprietary bioplastics designed for multiple purposes. Cereplast Compostables® blown film resins have a unique competitive advantage as they are processed on the same equipment used for traditional plastic manufacturing, making adoption of the bioplastics (from traditional plastics) an easy transition. Cereplast Compostables® resins replace nearly 100% of the petroleum based additives used in traditional plastics and are used for single use disposables and packaging including cups, straws, cutlery and bags.
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased, sustainable bioplastics which are used as substitutes for traditional plastics in all major converting processes – such as injection molding, thermoforming, blow molding and extrusions – at a pricing structure that is competitive with traditional plastics. On the cutting-edge of biobased plastic material development, Cereplast now offers resins to meet a variety of customer demands. Cereplast Compostables® resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® resins combine high biobased content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging.
Source: Cereplast, Inc., press release, 2013-09-04.