Cereplast Opens European Headquarters in Germany to Service Growing Bioplastic Demand in Europe
Date : 01/04/2011 @ 8:30AM
Source : Business Wire
Stock : Cereplast, Inc. (CERP)
Quote : 4.6701 0.1601 (3.55%) @ 10:30AM
Cereplast Opens European Headquarters in Germany to Service Growing Bioplastic Demand in Europe
Cereplast (MM) (NASDAQ:CERP)
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Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has opened a European headquarters in B?nen, Germany to support the rapid expansion of its European operations.
Cereplast’s new European headquarters will provide a complete suite of services to clients in the pan-European region and handle logistics between its U.S. and Germany-based offices. The office is located at Siemensstrasse 42, D-59199 in B?nen, Germany. B?nen is 10 miles east of Dortmund, the seventh largest city in Germany.
“In 2010, Cereplast entered into a number of multi-million dollar agreements with European manufacturers and distributors, including Sezersan Ambalaj and RI.ME. Masterbatch S.r.l., and the pipeline for new contracts for Cereplast resin across Europe continues to grow rapidly,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Our new European headquarters will help provide European-based clients with regional support and provide Cereplast with an effective platform and capacity to grow our European operations. This marks the first step toward achieving our plan to open a manufacturing plant in Europe during 2012 that will handle at least 200MM pounds, a production capacity double the size of our U.S. factory."
In addition to increased consumer awareness concerning the environment, demand in Europe for Cereplast bioplastic resin continues to grow as a result of legislation banning the sale of plastic bags in countries across Europe, including the ban on plastic bags approved by the Italian Parliament on December 23, 2010.
European manufacturers are increasingly seeking out plastic alternatives to comply with legislation that go in to effect in 2011.
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 Sustainables™ 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. You may also visit the Cereplast social networking pages at Facebook.com/Cereplast, Twitter.com/Cereplast and Youtube.com/Cereplastinc.
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. |
