Cereplast Signs Supply Agreement With Manufacturers In Brazil
HAWTHORNE, Calif.--(BUSINESS WIRE)--Cereplast, Inc. (OTCBB:CERP), manufacturer of proprietary bio-based, sustainable plastics, today announced that it has signed a two-year contract to supply a total of two million pounds of Cereplast Compostables® resin to two companies in Brazil. Through IraPlast-Krest, the company's exclusive representative in Brazil, Cereplast will provide the resin to Canguru Embalagens Ltda., a leading provider of single-use food service items, and to the Brazil-based subsidiary of a global agribusiness and food company.
"We are pleased with the partnership established between these companies and Cereplast-IraPlast-Krest. This is another milestone and we believe that it is just the beginning of an even larger roll out in South America" said Frederic Scheer, Chairman and CEO of Cereplast. "As businesses and consumers around the world become more environmentally conscious, Cereplast stands ready to meet the growing demand for alternatives to petroleum-based plastic."
Canguru is the first client to launch a biodegradable and compostable food service ware line in Brazil. Its Bio-Zanatta line, which consists of cups, plates and compostable bags, is manufactured exclusively using Cereplast Compostables® resin.
"Canguru is very concerned about the environment and for several years has explored working with biodegradable resin," said Ernesto Schulz, CEO of Canguru Embalagens. "With the support of Cereplast and IraPlast-Krest, we have the best solution to our customers' needs."
Scheer continued, "While our initial supply agreement with these companies is for Compostables® resin, we also see a tremendous opportunity to supply them – and other companies looking to enhance ecological sustainability in durable plastic applications – with Biopropylene® from our Cereplast Hybrid Resins® family."
About Canguru S/A Indústria e Comércio de Embalagens
Founded in 1970, Canguru Embalagens Ltda. occupies the leading position in Latin America in working with thermoforming and blown film processes. For more information, visit www.canguru.com.br.
About IraPlast Ltda.
Founded in 1999, Iraplast Ltda. works with the injection molding process companies in the food, chemical, automotive industries. As Cereplast´s exclusive representative in Brazil since 2006, IraPlast has worked towards green solutions and development of new, environmentally-friendly packaging technologies. For more information, visit www.iraplast.com or neto@iraplast.com.
About Krest International Ltda.
Since its founding in 1993, Krest International Ltda. has met the challenge of transforming innovation into results. Starting with hydraulic fluid distribution for the oil industry, Krest has a solid history of attracting and importing high technology products from all over the world to the Brazilian market. As an environmentally-conscious company, Krest has been focused on eco-friendly products, as evidenced by the contract signed with Cereplast, Inc. in 2008. For more information, visit www.krest.com.br.
About Cereplast, Inc.
Cereplast, Inc. (OTCBB: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 Compostable® 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® products combine the 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.
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