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Cereplast & Sezersan Enter into Agreement to Bring Bio-Based Twist Film Packaging to the European Marketplace for the First Time
Date : 09/15/2010 @ 7:00AM
Source : Business Wire
Stock : Cereplast, Inc. (CERP)
Quote : 3.51 0.0 (0.00%) @ 8:00AM


Cereplast & Sezersan Enter into Agreement to Bring Bio-Based Twist Film Packaging to the European Marketplace for the First Time
Cereplast (MM) (NASDAQ:CERP)
Intraday Stock Chart
Today : Wednesday 15 September 2010
Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has partnered with Sezersan Ambalaj (Sezersan), a subsidiary of Asci Group in Turkey, to produce bio twist films made from Cereplast Compostables® resins. The first-of-its-kind, patented product will serve as wrap packaging for a variety of food products distributed throughout Europe.

The Sezersan bio twist film will be manufactured using Cereplast Compostables® 7003 bio resin, designed to provide high strength, toughness and process ability for products. Under the terms of the multi-million dollar agreement, Cereplast will begin monthly shipments of 100 to 150 metric tons of bio resin in December 2010. The new bio twist film has substantial form memory capability (dead-fold behavior) and is heat sealable. The film is also thinner than other twistable product and may be made into opaque or semi-transparent, film-like material. The bio twist film will be used as packaging for a variety of brands in the food industry in Europe.

"We are honored to partner with Sezersan and be the first to market with bio twist films which offer an environmentally sound alternative for their clients' packaging needs," said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Companies are increasingly looking at bio-plastics as an alternative to petroleum-sourced plastics in order to meet growing consumer and industrial demand for economically and ecologically sound, 'green' products."

"Cereplast bio resins will help us cater to consumer demand for an environmentally sound substitute for petroleum-based plastic packaging," said Mehmet Asci, President and CEO of Asci Group. “As one of the largest twist film producing companies in Europe, we are committed to listening to the concerns of our clients and to finding ways to improve our product offerings. Cereplast resin allows us to provide an environmentally intelligent alternative to traditional plastic products, helping to make the world a healthier place. We are excited to be the very first to offer this solution in our robust industry.”

Cereplast, Inc. is actively producing bioplastic resins for use in products including tableware, cutlery, toys, healthcare and hygiene products, bottles and containers, bags, packaging, gift cards, printed displays, straws, pipes, conduits, and many other applications. This year, Cereplast is on track to ship 16 million pounds of bio-plastic resins to customers around the world, an increase of 400% from last year, in response to surging consumer and industrial demand for economically and ecologically sound, "green" products.

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 Hybrid 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.

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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