This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Cereplast Signs Distribution Agreement With Polimernet Plastik To Expand Its Supply Of Bioplastic Resin To The Turkish Market

Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary biobased, compostable and sustainable plastics, entered into a distribution agreement with Polimernet Plastik Ltd. (“Polimernet Plastik”) to supply Cereplast bioplastic resins to the Turkish market.

"Cereplast has entered into six European distribution agreements in 2011, and this partnership with Polimernet Plastik is a clear indication of the explosive demand for bioplastic resin sweeping across the pan-European marketplace," said Frederic Scheer, Chairman and CEO of Cereplast, Inc. "This is another step in our growth strategy to secure quality distribution partners in key regions, such as Turkey. Turkey is one of the first three countries in Europe who have forged forward with adopting bioplastic material for products and packaging in an attempt to help safeguard the environment.”

Under the terms of the agreement, Polimernet Plastik will supply Cereplast Compostables® resin to product and package manufacturers in Turkey. The contract includes a minimum of 100 tons of Cereplast resin per month for 2011, a number to grow in 2012 and beyond. With 8% GDP growth, Turkey is benefiting from the strongest economic prosperity in Europe, and, in terms of bioplastic market share in Europe, the country ranks third, after Italy and Germany. According to European Plastics, the bioplastics industry in Europe is growing at a rate of roughly 20% each year.

"We are excited about our collaborative agreement with Cereplast, as its proprietary compostable resin products are an effective solution for our customers as they seek to meet an alternative to petroleum-based plastic which is harmful to the environment," said Selim Güven, General Manager at Polimernet Plastik. "We are committed to bringing our clients, in Turkey, the most innovative and highest quality biobased materials for the manufacturing of their products and packaging needs.”

Polimernet Plastik will use the Cereplast Compostable 3000 and the Cereplast Compostable 7003 film grades to produce bioplastic film for garbage bags, food packaging and t-shirt bags. 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 and 7003 are proprietary patented formulations, which includes Ingeo PLA.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs