Cereplast Provides an Update on Plastic Legislation in Europe
EU Environmental Commission Considers Legislation to Tax or Ban the Use of
Seymour, Indiana, Sept. 24, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:
CERP), a leading manufacturer of proprietary biobased, compostable and
sustainable bioplastics is providing an update on European legislation
surrounding the use of disposable plastic bags that would allow member states
to place bans or taxes on single-use plastic bags in an effort to protect the
environment. Bans or taxes on single-use plastic bags would push the European
Union (EU) market to use alternative materials, like bioplastic, in the
manufacturing of shopping bags.
European Legislation Timetable to Date:
· April 2013: Italian government signed and published a decree
inflicting sanctions on bags made from traditional plastic;
· May 2013: the United Kingdom (UK) government files an opposition with
the EU, which claimed Italy was breaching EU internal market rules;
· June 2013: EU authority requested the Italian government to wait to
enforce the legislation until September 13, 2013 in order to resolve the UK
· September 13, 2013: Date has passed without a formal answer from the
EU. However, Janez Potocnik, EU Environmental Commissioner, has publically
stated that he intends to propose a larger EU directive extending a solution
to the entire European community, similar to the Italian legislation.
"The passing of the September 12, 2013 date without an update from the EU has
left the EU market in a state of confusion in terms of what the status of the
legislation is," Frederic Scheer, Chairman and CEO of Cereplast.
"Unfortunately, when dealing with a governing body, delays are to be expected.
Even still, we are confident that there will be resolution in the near-term."
According to an EU Environmental Commission report, governments need to impose
taxes and benefits to change consumer behavior in order to protect and
preserve the environment. Commissioner Potocnik supports a move that would
mandate EU member states to minimize the single use of plastic products,
specifically shopping bags, which have the ability to be used multiple times.
The report also cites how in 2002, Ireland imposed a tax on plastic bags,
resulting in a 90 percent reduction in plastic waste. Britain's deputy prime
minister, Nick Clegg, also made a formal statement saying a 5p charge for
plastic bags in England will be introduced by the government in an effort to
discourage their use.
Sheer added, "The potential market for bioplastic, if legislation expanded to
the entire EU community, could reach 1 million tons a year or close to $4
billion in potential revenue to be divided between the small number of
companies operating in this sector of which Cereplast is a major participant.
We have already seen an increase in interest from companies located in France
and Spain and we anticipate that a large portion of Europe will be subject to
a pro-bioplastic directive in the coming years."
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.
CONTACT: Cereplast, Inc.
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