Hong Yuan Holding Group (HGYN)

[Rawnoc]

BRIEFING.COM -- Cereplast entered into a multi-million dollar contract with RI.ME. Masterbatch S.r.l.

Co announced today that it has entered into a multi-million dollar contract with RI.ME. Masterbatch S.r.l., based in Mozzate, Italy, to supply bioplastic resins for use in its masterbatch process for adding colorant to bulk, uncolored resins. The new agreement supports RI.ME.'s commitment to offering its customers sustainable, environmental solutions in the design and production of masterbatches. Under the terms of the contract, Cereplast will supply its Compostable 3000 film grade for use in RI.ME.'s masterbatching processes for the production of items such as carry out bags and compostable trash bags. This film is designed to have an excellent balance of puncture strength, toughness, and can be processed on existing blown film extrusion machines. Cereplast Compostable 3000 is a proprietary patented formulation which includes Ingeo PLA and a copolyester from BASF. Cereplast will begin shipping its bio resins in September 2010 and is currently in discussions to extend the contract on other RI.ME. product lines. The initial contract runs through December, 2011.