Bunge to Expand Use of Cereplast Resins as Biodegradable Food Packaging Solution
Date : 05/18/2010 @ 8:00AM
Source : Business Wire
Stock : Cereplast, Inc. (CERP)
Quote : 4.9 0.0 (0.00%) @ 8:00AM
Bunge to Expand Use of Cereplast Resins as Biodegradable Food Packaging Solution
Cereplast, Inc. (NASDAQ:CERP) (“Cereplast,” or the “Company”), a leading manufacturer of proprietary bio-based, sustainable plastics, announced today that Bunge Alimentaris, a Brazilian subsidiary of Bunge, Ltd will be expanding its use of Cereplast Resins as a compostable food packaging solution throughout Brazil. This marks the continued success of Cereplast’s bio-based resins in award-winning compostable food packaging solutions offered by Bunge.
“We continue to enjoy a strong relationship with Bunge Alimentaris, which has employed our U.S. FDA-compliant bio-based resins in food packaging with great success,” noted Mr. Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “We are excited to work with them as they prepare to expand the use of our resins in a new line of food packaging application.”
In 2009, the WorldStar Packaging Organization honored Bunge Alimentos with a 2009 WorldStar Packaging Award for its biodegradable margarine packaging using Cereplast Compostables® resins. The thermoformed packaging, used for the Cyclus margarine tub, is 100% based on Cereplast’s proprietary bio-based resins. WorldStar Awards are the pre-eminent international award in packaging that illustrates the continual advancement of the state of packaging art. "We have created a new concept for food packaging and are working on increasing the line of products made from Cereplast resins," said Mr. Helio Kinoshita, Director of R&D from Bunge Brazil.
“Foodservice ware and packaging made from traditional oil-based plastics, which are non-biodegradable, have caused health and environmental concerns in recent months” added Mr. Scheer. “Packaging made from our proprietary bio-resins offer a compelling, eco-friendly solution for disposable products such as these that we expect a growing number of plastics manufacturers will begin to adopt.”
About Cereplast, Inc.
Cereplast, Inc. (NASDAQ:CERP) designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with petroleum-based plastics. On the cutting-edge of bio-based 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 bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Hybrid Resins® combine high bio-based content with the durability and endurance of traditional plastic, making them ideal for applications in industries such as automotive, consumer electronics and packaging. Learn more at www.cereplast.com.
About Bunge Limited
Bunge Limited (www.bunge.com) is a leading global agribusiness and food company with approximately 37,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America. Founded in 1818, the company is headquartered in White Plains, New York. Bunge Alimentos SA is the biggest agribusiness exporter and the fourth-largest exporter of Brazilian products. Bunge Alimentos S.A. employs more than 5,000 people directly in its plants in Brazil, as well as thousands of others indirectly.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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