Cereplast Signs Second European Distribution Deal In 2011
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 Euroink Romania to supply Cereplast bioplastic resin to the Romanian marketplace. This partnership marks the second European distribution deal that the company has entered into since the start of 2011.
Under the terms of the agreement, Cereplast will supply Euroink Romania with Cereplast Compostables® Resins and Cereplast Sustainables™ Resins for use in its masterbatch process for adding colorant to bulk, uncolored resins that is used to manufacture bags, garden furniture, household items, industrial parts, among other products. Euroink Romania is a producer of flexographic inks, solvents, and distributor of raw materials, masterbatches and associated products for the plastics and packaging industry.
In recent years, Romania has positioned itself as a manufacturing hub for Western European plastics companies as many of them have moved their operations to the country. This new contract has opened a number of opportunities for supplying companies with bioplastic resin, many of which also serve regions beyond Romania.
“We are thrilled to work collaboratively with Euroink Romania to provide the Romanian market with the bio-based resin needed to meet surging demand for bioplastic materials across Europe,” said Frederic Scheer, Chairman and CEO of Cereplast, Inc. “This partnership reflects Cereplast's aggressive growth strategy and continued commitment to expanding the company's distribution with local partners throughout Europe. Eastern Europe is an important geographic region for us as it serves as the continent’s manufacturing hub.”"Our agreement with Cereplast enables us to supply our customers with environmentally sustainable materials for product and packaging manufacturing," said Stefan Marin, sales manager of Euroink Romania. "This agreement expands our product offering and strengthens our positioning as a leading distributor of flexographic inks, solvents and masterbatches in Romania." 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.
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