Cereplast, a bio-based, sustainable plastics producer, has set up a new plant for manufacturing bioplastics in Assisi, Italy.
There is a growing demand for bioplastic resin in Europe. The new development represents Cereplast's commitment towards delivering this material to meet the demand. The company has selected Italy as an ideal location for the new plant. Moreover, the company has a number of distribution partnerships in the region and the Italian government has offered its support for the development and application of bioplastics.
The new manufacturing plant will increase the company’s efficiency and minimize business risks and transportation costs. Cereplast will serve the growing European bioplastics market via the new facility.
The completed plant will have a total capacity to produce about 100,000 tons of bioplastics and the production will take place in a number of phases. The initial phase will produce 50,000 tons of materials and the manufacturing is anticipated to begin in late 2012. The second phase will result in 50,000 tons and the production is expected to start in mid 2013.
Cereplast’s subsidiary, Cereplast Italia SPA, will own and operate the new facility, which will receive initial investment of approximately €10 to €12 million. Regional and local Italian financial institutions will fund the project.