Cereplast Strengthens North American Sales Team
North American Pipeline Includes Approximately 30 Projects Valued at $10
Million Per Year
SEYMOUR, Ind., July 23, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP)
(the "Company"), a leading manufacturer of proprietary biobased, compostable
and sustainable bioplastics, has strengthened its North American sales team
through the appointment Mr. Reddy Tudi as Vice President of Business
Development and Mr. Kevin J. Fina as Regional Sales Manager. Together, Mr.
Tudi and Mr. Fina are working on approximately 30 projects in North America
for Cereplast Compostables® blown film and blow molding resins, as well as
Cereplast Sustainables® resins for injection molding applications. The
potential volume of these projects is $10MM per year.
Mr. Tudi has over sixteen years of experience in sales and marketing, project
management and techno-commercial operations with an emphasis in the renewable,
automotive and aerospace industries. Prior to joining Cereplast, Mr. Tudi was
the Director of Sales for Renewable Energy at the Freudenberg Group, and the
Vice President of Solar Project Development at NanoBright Solar Technologies.
He has an Executive MBA from Ohio State University and a Bachelor of Science
in Mechanical Engineering from the University of Massachusetts. As Vice
President of Business Development for Cereplast, Mr. Tudi will focus on the
Eastern Region of North America.
Mr. Fina has over thirty years of experience developing innovative
recreational plastic products including prototype development, product
manufacturing, supply procurement and distribution, as well as supplying
compounded materials for a variety of industries including automotive,
aerospace, personal care and recreation. As Regional Sales Manager for
Cereplast, Mr. Fina will focus on the Western Region.
Chairman and CEO of Cereplast Mr. Frederic Scheer commented, "There is demand
for our products globally and we are constantly evaluating these
opportunities. North America continues to be a market where we are focused on
developing sales and fostering growth. We believe the addition of Mr. Tudi and
Mr. Fina will further our traction in the United States and Canada, and feel
optimistic about the potential volume their current projects represent. Our
encouraging development in Italy, the USA and India should be a significant
part of our revenue in 2013."
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.
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.
CONTACT: Cereplast, Inc.
Alliance Advisors, LLC
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