Cereplast Provides Shareholder Update on Italian Application Decree &
Announces $300,000 in New Revenue
EL SEGUNDO, Calif., Feb. 5, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc.
(OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased,
compostable and sustainable bioplastics, generated approximately $300,000 in
new revenue during the last two weeks of January 2013. These orders received
are in addition to the $500,000 of new revenue that was announced on January
The Italian Application Decree, which mandates that companies discontinue the
use of traditional plastic bags in favor of bioplastic bags or other
alternatives, continues to drive demand for the Cereplast Compostables® blown
film grades. The new orders were fulfilled utilizing existing inventory and
were paid in advance of shipment or within conservative credit terms.
The next important milestone will be the formal publication of the Italian
Application Decree, which is expected to increase the demand for bioplastic
film. Cereplast blown film resins are part of a very limited, proprietary and
select type of resin that are able to serve the Italian market for bioplastic
blown film. According to European Plastics News, the European market volume
for flexible packaging is approximately 3.6 million tons, which is worth
approximately €20 billion. Italy represents 25% of this market volume at
approximately 900,000 tons per year. Although all applications will not be
transferred to bioplastic, Italy could become the largest market for
bioplastic film applications in 2013 with potential industry revenues of
several hundred million euros.
"The Italian market for bioplastic blown film is once again gaining momentum,"
stated Cereplast Chairman and CEO, Mr. Frederic Scheer. "As a result of
government legislation and mandates being passed down by the Italian
parliament, the sales trend is continuing. We anticipate demand from this key
region to approach similar sales volumes that we experienced in 2011. We are
encouraged by the sales data we are analyzing, which is pointing to a strong
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased,
sustainable bioplastics which are used as substitutes for traditional plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
traditional plastics. On the cutting-edge of biobased 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 biobased content and compostability are advantageous,
especially in the food service industry. Cereplast Sustainables® resins
combine high biobased 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. You may
also visit the Cereplast social networking pages at Facebook.com/Cereplast,
Twitter.com/Cereplast and Youtube.com/Cereplastinc.
The Cereplast, Inc. logo is available at
CONTACT: Cereplast, Inc.
(310) 615-1900 x154
Alliance Advisors, LLC
Cereplast, Inc. Logo
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