Cereplast Opens Corporate Office In India To Support South Asian Bioplastic Market Growth Initiative
EL SEGUNDO, Calif., Aug. 28, 2012 (GLOBE NEWSWIRE) -- Cereplast, Inc. (Nasdaq:CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, announced today that it has opened a corporate office in Hyderabad, capital of the Indian state Andhra Pradesh, to service its partners in South Asia.
The new office will provide a direct pipeline between its South Asian partners and Cereplast's US headquarters to streamline communication between all parties. The suite of services offered will include technical support, marketing support and business development. The office is located within the offices of A.R.M.Y Marketing Services Ltd., Cereplast's partner in India, at Flat No: 301, House No: 3-6-322 Mahaveer House, Basheerbagh Hyderabad - 500029, Andhra Pradesh, India. Of India's 28 states, Andhra Pradesh is the fourth largest state by area, and the fifth largest by population.
Frederic Scheer, Chairman and CEO of Cereplast, stated, "We are excited by the growth opportunities in South Asia, and are committed to supporting our expansion in the region, particularly in India, with the opening of our corporate office. We are pleased to be in close proximity to our partner A.R.M.Y. who has extensive experience and built credibility in the marketplace. Working closely with A.R.M.Y., who has an extensive marketing network, will provide us the ideal platform to grow in the region."Mr. Scheer continued, "India is the second most populated country in the world with over 1.2 billion people. According to the National Geographic Greendex 2012 report, Indian consumers rank the highest overall as the most 'green' in the world with 63% describing themselves as green; 33% are willing to pay more for eco-friendly products, 49% avoid environmentally unfriendly products and 50% buy eco-friendly products. This is a market with a rapidly growing demand for bioplastic alternatives to conventional plastics, and we are poised to take advantage of this opportunity."
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