- Opened initial sales office in Europe with facility in Bönen, Germany, in January, to support the rapid expansion of its European operations.
- Signed distribution agreements during the first quarter solidifying the company’s presence in the growing European market.
- Entered into a distribution agreement with DMT Plasticolor, in March, to supply Cereplast bioplastic resins to the Croatian marketplace.
- Signed distribution agreements in January with BioWorks Pl, ColorTec S.r.l., and Euroink Romania, to supply bioplastic resin to the Southern Italian, Polish, Romanian, and Slovenian markets.
- Launched a new trademarked icon, in April, to help consumers identify products made from bioplastics. The new symbol is a result of Cereplast’s “Make Your Mark” competition which produced a new icon that will represent the next generation of plastics — bio-based, biodegradable, and compostable plastics that protect and preserve the environment. The new icon will be used in a similar fashion to the recycling symbol as it will be stamped on products and serve as an identifying mark of bioplastic material.
- Announced Italy-based bioplastic manufacturing plant, in May, to create efficiencies and enable continued expansion into European market. The plant is expected to have 100,000 tons of capacity and is to be financed by local Italian financial institutions.
Cereplast Reports First Quarter 2011 Results
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