Cereplast Receives $1.4 Million Purchase Order for Biopropylene(r) 101
Seymour, Indiana, Oct. 8, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:
CERP) (the "Company"), a leading manufacturer of proprietary biobased,
compostable and sustainable bioplastics, today announced that it received a
$1.4 million purchase order for Cereplast Biopropylene^® 101 from Dugar
Eximark Private Limited (Dugar Eximar), a customer based in Hyderabad, India.
Cereplast is selling the material from existing inventory, which will ship
primarily from Europe over the next 10 months.
Cereplast Chairman and CEO Mr. Frederic Scheer stated, "Entering into an
agreement to liquidate our existing inventory is a critical milestone for our
company. From a financial perspective, this transaction yields strong cash
flow over the next 10 months due to the sale of existing product already
manufactured. Additionally, in our continued effort to build our footprint in
India we are encouraged by the continued partnership we have built with Dugar
Eximark who has purchased Cereplast Compostables^®resins in the past for
single-use disposable applications. Their expansion into the Cereplast
Sustainables^® family for durable applications signifies the ever-growing
interest and demand in the region for bioplastic alternatives to traditional
plastic resins. We expect the steady stream of purchase orders from our Indian
customers to continue."
Dugar Eximark specializes in green products, building materials, agricultural
products, petrochemicals and import-export services. The order of Cereplast
Biopropylene 101 will be used for the manufacture of toys, furniture and
building construction materials for distribution in South Asia. With over 1.2
billion people, India is the second most populated country in the world, is
the third largest consumer of conventional plastics, and has been ranked the
highest overall as the most "green" by the National Geographic Greendex 2012
report. As such, India is poised to become one of the largest consumers of
bioplastics in the world. This trend, coupled with anti-conventional plastic
legislation in the country, is fostering a continuous stream of purchase
orders for Cereplast from customers in India.
Biopropylene 101 is part of the Cereplast Sustainables^® family of resins, and
provides a lower carbon footprint when compared to conventional plastic
resins, while maintaining many desirable conventional Polypropylene (PP)
properties such as chemical resistance, mold shrinkage, mold flow, surface
appearance, heat deflection temperature and hinge performance. If 0.1% of the
global demand for conventional PP was replaced with Biopropylene 101, that's
equivalent to removing 5100 cars from America's roads or planting 1.2 million
trees, which would save millions of pounds of carbon dioxide a year.
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.
Alliance Advisors, LLC
Cereplast, Inc. Logo
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