Cereplast Signs Distribution Agreement with DMT Plasticolor to Supply Bioplastic
Material to the Croatian Market
New Partnership Expands Company's Footprint in Europe
EL SEGUNDO, Calif., Mar 23, 2011 (BUSINESS WIRE) -- --Contract Reflects Continued
Surge in Demand for Bioplastics in Europe
Cereplast, Inc. (CERP), a leading manufacturer of proprietary bio-based,
compostable and sustainable plastics, announced today that it has entered into a
distribution agreement with DMT Plasticolor to supply Cereplast bioplastic resins
to the Croatian marketplace. This agreement is the fourth contract that Cereplast
has entered in to in 2011 and reflects a continuing surge in demand for
bioplastic resin across the pan-European marketplace.
Under the terms of the agreement, DMT Plasticolor will exclusively distribute
Cereplast Compostables(R) Resins and Cereplast Sustainables(TM) Resins to product
and package manufacturers in Croatia. Cereplast's bioplastic resins enable DMT
Plasticolor to supply its customers with plastic alternatives made from renewable
resources including corn, wheat, tapioca, potatoes and algae. DMT Plasticolor
will use the Cereplast Compostable 3000 film grade to produce bioplastic films
for food packaging. This bioplastic film is designed to have a balance of
puncture strength, toughness, and can be processed on existing blown film
extrusion machines. Cereplast Compostable 3000 is a proprietary patented
formulation, which includes Ingeo PLA and a copolyester from BASF. The agreement
is for 100 tons of Cereplast resin per month for one year.
Founded in 2000, DMT Plasticolor is one of the leading suppliers of masterbatches
and additives for the plastics industry in Croatia and the surrounding Adriatic
countries. DMT Plasticolor has partnered with some of the largest resin suppliers
in the world.
"We're proud to partner with DMT Plasticolor to help bring bioplastic materials
to the Croatian market. This marks Cereplast's fourth distribution agreement in
2011, a clear indication of a soaring market in Europe for bioplastic resin,"
said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. "There are
three main drivers for the surge in demand for bioplastics across Europe. First,
consumer attitudes in Europe are favorable toward sustainable products and
packaging; secondly, the composting structure in Europe is strong and developed;
and, lastly, supportive governmental policies toward protecting and preserving
the environment. These combined factors have collectively influenced exponential
growth in bioplastic demand in the pan-European marketplace. Cereplast is
well-positioned to meet and satisfy this growing demand in Europe."
"This collaborative agreement with Cereplast enables us to expand our product
offering and strengthens our position as a leading distributor of masterbatches
in the Croatian region," said Darko Ivan Oroz, Director of DMT Plasticolor. "We
are committed to bringing our clients the best quality biobased plastics for the
manufacturing of products and packaging." |
