Jan 20 2011
Cereplast, Inc. (NASDAQ:CERP), a leading manufacturer of proprietary bio-based, compostable and sustainable plastics, announced today that it has entered into a distribution agreement with Euroink Romania to supply Cereplast bioplastic resin to the Romanian marketplace.
This partnership marks the second European distribution deal that the company has entered into since the start of 2011.
Under the terms of the agreement, Cereplast will supply Euroink Romania with Cereplast Compostables® Resins and Cereplast Sustainables™ Resins for use in its masterbatch process for adding colorant to bulk, uncolored resins that is used to manufacture bags, garden furniture, household items, industrial parts, among other products. Euroink Romania is a producer of flexographic inks, solvents, and distributor of raw materials, masterbatches and associated products for the plastics and packaging industry.
In recent years, Romania has positioned itself as a manufacturing hub for Western European plastics companies as many of them have moved their operations to the country. This new contract has opened a number of opportunities for supplying companies with bioplastic resin, many of which also serve regions beyond Romania.
“We are thrilled to work collaboratively with Euroink Romania to provide the Romanian market with the bio-based resin needed to meet surging demand for bioplastic materials across Europe,” said Frederic Scheer, Chairman and CEO of Cereplast, Inc. “This partnership reflects Cereplast's aggressive growth strategy and continued commitment to expanding the company's distribution with local partners throughout Europe. Eastern Europe is an important geographic region for us as it serves as the continent’s manufacturing hub.”
"Our agreement with Cereplast enables us to supply our customers with environmentally sustainable materials for product and packaging manufacturing," said Stefan Marin, sales manager of Euroink Romania. "This agreement expands our product offering and strengthens our positioning as a leading distributor of flexographic inks, solvents and masterbatches in Romania."