Jan 12 2011
Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has entered into a multi-million dollar supply and distribution agreement with BioWorks Pl to supply Cereplast bioplastic resins to the Polish marketplace.
This partnership reflects a growing demand for Cereplast bioplastic resin across the European continent.
Under the terms of the agreement, BioWorks will distribute Cereplast Compostables® Resins and Cereplast Sustainables™ Resins to product and package manufacturers in Poland. Cereplast's bioplastic resins enable BioWorks Pl to supply its customers with bio-based plastic -- made from renewable resources including corn, wheat, tapioca and algae -- an environmentally sustainable alternative to traditional petroleum-based plastic.
"Cereplast remains committed to identifying key partners in the European marketplace to help meet explosive demand for bioplastic resin on the continent,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Poland, the largest central European country, is considered one of the main manufacturing hubs in Western Europe and we are proud to partner with BioWorks Pl to help supply the bioplastic resin required to meet surging demand for environmentally friendly plastic products in the country. In 2011, Poland has the potential to become a multi-million dollar bioplastics market and this partnership enables us to capture substantial marketshare.”
BioWorks Pl, a division of Galant PLC, has 18 years of experience in using bioplastic resin (from BASF Ecoflex, Novamont, Ingeo PLA, among others) to manufacture consumer products including cutlery, cups and straws, as well as extruding films for shopping and garbage bags, that are distributed throughout Europe. The parent company, Galant, is a plastic manufacturer specializing in injection molding, thermoforming and extrusion blown film production lines.
"Our collaborative agreement with Cereplast enables us to address growing consumer and industrial demand for products made from renewable resources," said Norbert Zimnik, Chairman of BioWorks Pl. “The Western European market for bioplastics continues to grow at a strong pace and Poland plays a critical role in this growth. We are committed to bringing our customers products and/or resin made from the highest-quality materials.”