EL SEGUNDO, Calif.--(BUSINESS WIRE)--Cereplast, Inc. (NASDAQ: 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® Resins and Cereplast Sustainables™ 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.”
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.