Cereplast Enters into Supply/Distribution Agreement with BioWorks Pl to Supply
Bioplastic Resin to the Polish Marketplace
New Partnership Confirms Growing Demand for Bioplastics in Europe
EL SEGUNDO, Calif., Jan 11, 2011 (BUSINESS WIRE) -- Cereplast, Inc. (CERP), a
leading manufacturer of proprietary bio-based, compostable and sustainable
plastics, announced today that it has entered into a multi-million dollar supply
and distribution agreement with BioWorks Pl to supply Cereplast bioplastic resins
to the Polish marketplace. This partnership reflects a growing demand for
Cereplast bioplastic resin across the European continent.
Under the terms of the agreement, BioWorks will distribute Cereplast
Compostables(R) Resins and Cereplast Sustainables(TM) Resins to product and
package manufacturers in Poland. Cereplast's bioplastic resins enable BioWorks Pl
to supply its customers with bio-based plastic -- made from renewable resources
including corn, wheat, tapioca and algae -- an environmentally sustainable
alternative to traditional petroleum-based plastic.
"Cereplast remains committed to identifying key partners in the European
marketplace to help meet explosive demand for bioplastic resin on the continent,"
said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. "Poland, the
largest central European country, is considered one of the main manufacturing
hubs in Western Europe and we are proud to partner with BioWorks Pl to help
supply the bioplastic resin required to meet surging demand for environmentally
friendly plastic products in the country. In 2011, Poland has the potential to
become a multi-million dollar bioplastics market and this partnership enables us
to capture substantial marketshare."
BioWorks Pl, a division of Galant PLC, has 18 years of experience in using
bioplastic resin (from BASF Ecoflex, Novamont, Ingeo PLA, among others) to
manufacture consumer products including cutlery, cups and straws, as well as
extruding films for shopping and garbage bags, that are distributed throughout
Europe. The parent company, Galant, is a plastic manufacturer specializing in
injection molding, thermoforming and extrusion blown film production lines.
"Our collaborative agreement with Cereplast enables us to address growing
consumer and industrial demand for products made from renewable resources," said
Norbert Zimnik, Chairman of BioWorks Pl. "The Western European market for
bioplastics continues to grow at a strong pace and Poland plays a critical role
in this growth. We are committed to bringing our customers products and/or resin
made from the highest-quality materials."
About Cereplast, Inc.
Cereplast, Inc. (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(R) 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(TM) 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 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.
SOURCE: Cereplast, Inc.
Cereplast, Inc.
Nicole Cardi
310-615-1900 x154
ncardi@cereplast.com
or
MKR Group, Inc.
Investor Relations
Charles Messman or Todd Kehrli
323-468-2300
cerp@mkr-group.com
or
Trontz Public Relations
Bari Trontz
212-566-2310
bari@trontzpr.com |
