Cereplast, Inc. (the “Company”), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that it received multiple purchase orders for Cereplast Compostables® blown film resins totaling approximately $200,000 in sales. These resins will be used for the manufacture of single-use plastic bags for use at about 45 supermarkets located in the Veneto and Trentino Regions in, Italy. The resin is being produced this month at the Company’s manufacturing facility in Seymour, Indiana.
Mr. Frederic Scheer, Chairman and CEO of Cereplast, stated, “We are pleased to have achieved this significant milestone as these supermarkets are the first 45 that have begun to utilize our resins. Our resins have been well received by Italian consumers and we strongly believe that these orders represent only a fraction of the overall market opportunity. Despite the short term delays posed towards finalizing the Italian sanctions we are seeing strong demand for our resins particularly from large retailers that are proceeding as if the legislation is being fully enforced and continue to transition to bioplastic alternatives for single-use bags. We anticipate that the issues within the European Union will be resolved by the fall and expect that orders from Italy for our blown film resins will accelerate accordingly.”
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, 2013-07-10.