Cereplast Expects 400% Growth for Bioplastics in 2010
Cereplast, a manufacturer of proprietary bio-based, sustainable plastics, expects to ship approximately 16 million pounds of bio-plastic resins to customers in 2010, increasing shipments by 400 percent and revenue by 190 percent compared to 2009.
Cereplast recently entered into new global distribution agreements with several companies, including Ashland Distribution and Bunge Alimentaris, which has contributed to the company’s rise in shipment estimates.
“Distributors are increasingly utilizing bio-plastics as an alternative to petroleum-sourced materials in order to meet growing consumer and industrial demand for economically and ecologically sound, ‘green’ products,” said Frederic Scheer, Chairman and CEO of Cereplast, Inc.
The bioplastics sector surged last year despite the economic downturn, according to a recent survey from European Bioplastics.
To meet growing demand, Cereplast recently opened a new state-of-the-art production facility in Seymour, Indiana. The plant can produce approximately 80 million pounds of bioplastic resin annually at full capacity. The move to the new plant, which was relocated from Southern California, also has significantly reduced real estate and utility costs for the company.
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