| From: Savant | 1/23/2013 1:11:34 PM | | | | | | Jan. 23, 2013, 8:08 a.m. EST
Cereplast Announces $500,000 in New Revenue and Provides 2013 Outlook
EL SEGUNDO, Calif., Jan 23, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cereplast, Inc. (otcqb:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today is providing a shareholder update and an outlook for 2013. Cereplast has created additional liquidity through the generation of approximately $500,000 in revenue over the last six weeks while continuing to focus on restructuring its operations to further position the Company for growth throughout 2013.
Revenue Generation in Europe, the United States and Asia
In Europe, specifically in Italy, the Italian parliament made a critical vote on December 13, 2012, which confirms the proposed sanctions on companies using traditional plastic bags and mandates a switch to bioplastic or other alternatives 60 days from the publication of the Application Decree. In anticipation of the final Application Decree to be signed, Cereplast has received several orders for blown film resin, which were fulfilled utilizing its existing inventory. All customer payments were received in advance of shipment or within conservative credit terms. The Company expects continued growth in demand for blown film as a result of the anticipated legislation in Italy.
In the United States, Cereplast received several orders for compostable resins that will be used for food service applications. Multiple large food chains have started to embrace the use of compostable material for food service ware items including straws, cups and cutlery, for which Cereplast's resins are in demand. Cereplast has fulfilled these orders and all payments have been received.
Cereplast received several purchase orders from existing clients in India. Management is encouraged by the progress made in India and anticipates their investments in this new market will translate into additional purchase orders and future revenue growth in 2013.
Debt and Indenture
Management announced that our debt holders have waived the event of default, and have agreed to forbear from exercising their rights and remedies under the Indenture with respect to the Company's failure to make interest payments due on June 1, 2012 and December 1, 2012. The Company was successful in arranging a structured investment from an institutional investor, offering a repayment plan to settle both the past due interest balance as well as the coupon due in June 2013. The restructuring provides the Company relief until December 2013.
With respect to the Compass Horizon term loan, an arrangement was completed by which an institutional investor will repay the remaining principal and interest owed under the Term Loan.
Working Capital and Liquidity
To provide the Company with the required working capital to continue operations, approximately $1 million in short term convertible debt and equity financing was completed. In order to maximize these new investments, the Company has enacted an operational restructuring strategy which includes a reduction in operating costs. Additionally, the Company has taken aggressive cost cutting measures, which include a furlough for production employees and a reduction in its worldwide headcount to 17 employees.
In order to improve cash flow, the Company adjusted their sales and shipment policy, requiring payment in advance of shipment and reducing terms to less than 30 days for large domestic companies.
Inventory Recovery from Delinquent Accounts Receivable
Cereplast initiated a systematic strategy to recover their customers' unsold inventories associated with their delinquent Accounts Receivable balances. In September 2012, 22 containers of the Company's Compostable resins were successfully recovered, valued at approximately $2 million. The same strategy will be used to recover available remaining assets across Europe, Italy, Germany and Malta.
Intellectual Property
Management believes that there is tremendous unlocked value within the intellectual property portfolio of the Company. As the industry continues to evolve, management believes that large conglomerates will begin to make further investments. It is therefore critical to continue to protect the Company's intellectual property while continuing key Research and Development projects. In 2012, Cereplast was granted two patents and is prepared to file an additional five patents in the next few weeks covering both families of resins: Cereplast Compostables(R) resins and Cereplast Sustainables(R) resins, including Cereplast Algae Bioplastics(TM).
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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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 globenewswire.com
CONTACT: Cereplast, Inc.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net
www.AllianceAdvisors.net |
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| From: Savant | 2/6/2013 10:15:01 AM | | | | | | Cereplast Provides Shareholder Update on Italian Application Decree & Announces $300,000 in New Revenue
Feb 5, 2013 08:00:34 (ET)
EL SEGUNDO, Calif., Feb 05, 2013 (GLOBE NEWSWIRE via COMTEX) -- 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 23, 2013.
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(R) 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 EUR20 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 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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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 globenewswire.com
CONTACT: Cereplast, Inc.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net |
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| From: Savant | 3/15/2013 9:40:31 PM | | | | | | Cereplast, Inc. Joins Algae Biomass Organization
Mar 13, 2013 08:00:09 (ET)
EL SEGUNDO, Mar 13, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cereplast, Inc. (otcqb:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that it has joined the Algae Biomass Organization (ABO).
The ABO is a non-profit organization that promotes the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its primary goals include facilitating the commercialization and market development of microalgae biomass for the production of biofuels and greenhouse gas abatement.
Cereplast has been a pioneer in algae-based plastics, and recently incorporated a new wholly owned subsidiary, Algaeplast(TM), Inc. Algaeplast will develop and commercialize algae bioplastics, with an ultimate goal of developing new monomers and polymers made from algae within the next five years.
"Cereplast's algae bioplastics are a perfect example of the wide range of sustainable products that are being derived from algae," said Mary Rosenthal, Executive Director of the ABO. "We're thrilled they are joining ABO and supporting the ranks of innovative companies, research organizations and end-users working to make algae a source of valuable and sustainable commodities."
About the Algae Biomass Organization
The Algae Biomass Organization (ABO) is a 501 c(6) non-profit whose mission is to promote the development of viable commercial markets for renewable and sustainable commodities derived from algae. Its membership is comprised of people, companies and organizations across the value chain. More information about ABO, including its leadership, membership, costs, benefits and members and their affiliations, is available at the website: www.algaebiomass.org
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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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 globenewswire.com
CONTACT: Cereplast, Inc.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net
Valter Pinto
914-669-0222 x201
valter@allianceadvisors.net |
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| From: Savant | 3/15/2013 9:52:29 PM | | | | | | Cereplast Granted Patent for Biodegradable Nanopolymer Compositions
Mar 12, 2013 08:00:07 (ET)
EL SEGUNDO, Mar 12, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cereplast, Inc. (otcqb:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that the United States Patent and Trademark Office (USPTO) has granted the Company patent protection for biodegradable nanopolymer compositions and biodegradable articles made thereof. USPTO-issued patent 8,389,614 is a significant patent for the company and for the field of biodegradable polymers, as it is the first of its kind. This patent expands Cereplast's growing intellectual property portfolio and protects the composition formulation invented by the Cereplast R&D team.
This patent describes biodegradable compositions including polylactic acid (PLA) and other components, and incorporates nanofillers that improve the physical and thermal properties of the material. Biodegradable materials are known for their thermal and physical limitations, and the newly-patented Cereplast composition improves such properties by introducing nanofillers that are known for improving polymer functions.
Mr. Frederic Scheer Chairman and CEO of Cereplast commented, "Protecting the intellectual property of the Company is a high priority and is an important part of our long-term growth strategy, as is creating new grades of bioplastic resin that expand the properties available to meet the ever-growing needs of the marketplace. This new patent is the first for biodegradable nanopolymer compositions and further establishes Cereplast's role as a leader in the bioplastics industry. Nanopolymers have brought innovation to the traditional plastics industry, and we are proud to have extended their reach to the bioplastics industry."
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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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. |
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| From: Savant | 3/27/2013 11:51:55 AM | | | | | | EL SEGUNDO, Mar 27, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cereplast, Inc. (otcqb:CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, today announced that the Cell-O-Core(R) Company is manufacturing its Cello-Green(TM) brand compostable drinking straws using Cereplast Compostable 7003.
A photo accompanying this release is available at globenewswire.com
The Cello-Green brand Bio Straws are disposable with food waste--no separation is required--and will fully biodegrade in a municipal composting facility in 180 days or less. The Bio Straws are certified compostable by the Biodegradable Products Institute (BPI) and are Cedar Grove approved. Designed and produced for use in cold beverages only, the straws are not recommended for use in hot beverages over 120 degrees Fahrenheit. The Bio Straws are available in green, white or red, and the straw wrappers are printed with water-soluble inks. Cereplast 7003 and the Bio Straws are made in the USA.
Cereplast Compostable 7003 is BPI certified for industrial compostability* of films and other extruded applications with a maximum thickness of 60 mils (1.50mm). Compostable 7003 has been designed to have an excellent balance of translucency, strength, toughness and processability. This resin can be processed on existing profile extrusion and cast lines and is recommended for profile extrusion applications including straws and similar applications.
Frederic Scheer, Chairman and CEO of Cereplast, stated, "We are proud to be working with an established US company such as Cell-O-Core. Based on current market trends, we anticipate the demand for the Bio Straws to grow significantly in the coming months and years. The Bio Straws can be disposed of and composted with food waste, making them a convenient fit for fast food chains and other restaurants that are making the move toward more sustainable waste removal at their establishments."
About The Cell-O-Core Company
"Stirring up America... Since 1945" The Cell-O-Core Company was founded in 1945 and is based in Ohio. Their products area made in the USA. For more information about Cell-O-Core and their products, contact Thomas B. Allen, Executive Vice President and Chief Operating Officer: tallen@Cellocore.com or (330) 239-4370.
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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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.
*Not home compostable.
CONTACT: Cereplast, Inc.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net |
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| From: Savant | 4/4/2013 6:34:42 PM | | | | | | seekingalpha.com
EL SEGUNDO, Calif., April 3, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, is pleased to announce that the Italian plastic bag Application Decree has been published in the Official Journal, and sanctions for non-compliance with the legislation will be enforced effective May 27, 2013. Management estimates, based on certain provisions, that Cereplast's (CERP.OB) total addressable opportunity today for Italy alone exceeds $50 million.
Cereplast estimates that the total addressable market for compostable blown film grades in Italy exceeds $500 million. Currently there are 4 legitimate competitors who produce compostable blown film that are predominantly based in Europe, each varying in size from approximately $5 to $120 million in revenue. Based on current competition, current production capacity, a full production staff and sufficient working capital, the estimated market opportunity for Cereplast exceeds $50 million. Manufacturing capacity at the Company's Seymour, Indiana plant is currently 3000 tons/month. Based on current market pricing of $4,500/ton, this plant is capable of producing in excess of $10 million per month at full capacity. The Cereplast Compostables® blown film resins have a competitive advantage because they can be processed on traditional equipment without requiring modifications, and they do not emit problematic fumes.
Merchants must discontinue the use of traditional single-use plastic bags in favor of bioplastic bags or other alternatives. The law prohibits the use of OXO Biodegradable additives and requires Italian merchants to only use compostable applications as defined by EN 13432 that Cereplast resins comply with. The fines for non-compliance range between ¬2,500 and ¬25,000 and may be increased for large quantities of bags. This plastic bag ban is the first step by the Italian government to make Italy plastic-free.
Italian Minister of the Environment Corrado Clini stated, "This measure normalizes the uncertainties that have hindered the development of the production chain, promotes green chemistry and puts Italy in line with the EU."
Cereplast Chairman and CEO Mr. Frederic Scheer commented, "Many of our customers have been placing orders in preparation for this moment. We have tested our products with approximately 50 blown film converters in Italy, and now that the Application Decree has been published, we expect larger volume sales to follow in the wake of this news. We are excited about this key milestone and look forward to further serving the Italian marketplace with our proprietary bioplastic resins."
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. Public Relations Nicole Robertson (310) 615-1900 x154 nrobertson@cereplast.com Investor Relations: Alliance Advisors, LLC Alan Sheinwald 914-669-0222 asheinwald@allianceadvisors.net Valter Pinto 914-669-0222 x201 valter@allianceadvisors.net www.AllianceAdvisors.net |
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| From: Savant | 4/5/2013 10:23:48 PM | | | | | | EL SEGUNDO, Calif., April 2, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, today announced that Frederic Scheer, Chief Executive Officer and Michael Okada, Chief Financial Officer, will host a conference call to discuss the Company's financial results for period ending December 31, 2012 on Tuesday, April 16th at 4:30 p.m. Eastern.
Conference Call Details:
Date: Tuesday, April 16th
Time: 4:30 p.m. Eastern
Participant Dial-In: (480) 629-9712
Live Webcast: cereplast.com
It is recommended that participants dial in approximately 10 minutes prior to the start of the 4:30 p.m. Eastern call. There will also be a simultaneous live webcast of the conference call which can be accessed through the following audio feed link and archived recording of the conference call available under the Investor Relations section of the company website at cereplast.com .
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 (CERP.OB) 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.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net
www.AllianceAdvisors.net
Valter Pinto
914-669-0222 x201
valter@allianceadvisors.net
www.AllianceAdvisors.net |
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| From: Savant | 4/12/2013 2:07:48 AM | | | | | | Cereplast Italia Strengthens Its Sales Network
Apr 9, 2013 08:00:05 (ET)
EL SEGUNDO, Apr 09, 2013 (GLOBE NEWSWIRE via COMTEX) -- Cereplast, Inc. (otcqb:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that its wholly owned subsidiary Cereplast Italia is strengthening its sales network with the addition of approximately seven sales agents to promote the Company's products in Italy and neighboring countries.
The sales agents will focus on Cereplast Compostables(R) blown film grades. This step follows the recent legislation in Italy requiring merchants to discontinue the use of traditional single-use plastic bags in favor of bioplastic bags and other alternatives. The sales agents are not employees of the Company and have been retained with a commission-based structure, so there is no cost to the company unless the agents successfully close sales.
Mr. Frederic Scheer, Chairman and CEO of Cereplast, stated, "Demand for our blown film resins have increased steadily in anticipation of the publication of the Application Decree requiring the use of bioplastic bags in lieu of traditional single-use bags. With a target date for the enforcement of the Decree in May we have retained a team of sales agents to maximize our sales opportunities. We have only begun to scratch the surface of the $500 million overall market and estimated $50 million market opportunity for us to capture with the orders we have already received. This new team of sales agents is fully prepared to help the Company take full advantage of these favorable circumstances."
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(R) resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables(R) 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.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson@cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald@allianceadvisors.net
Valter Pinto
914-669-0222 x201
valter@allianceadvisors.net |
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| From: Savant | 4/25/2013 11:48:20 AM | | | | | | EL SEGUNDO, Calif., April 23, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today cited that the Supreme Court of India is moving toward stronger legislation to control the country's plastic pollution problem. Cereplast ( CERP.OB) has begun receiving orders and payment for Compostable 3002 for the manufacture of single-use bags, and expects to receive more orders for this material in the near future.
Although several regional plastic bag bans are in effect across India, the Supreme Court, along with the Central Pollution Control Board (CPCB), are looking toward more widespread solutions for the country's severe plastic pollution problems. Cereplast expects the growing anti-plastic climate in India, the world's third largest polymers consumer, could generate larger growth opportunities for the bioplastics industry in the country, specifically for compostable bioplastics. There is growing interest in India for Cereplast Compostables® resins, particularly for the blow molding grades that are suited for beverage bottles, as well as the blown film grades for single-use grocery bags and garbage bags.
India's polymer consumption accounted for 5.7% of the world's total in 2011, up from 3.5% in 2000. This level of consumption has its consequences. According to the CPCB, India generates 5.6 million metric tons of plastic waste each year, 40% of which remains uncollected and littered. Supreme Court Justices G.S. Singhvi and Kurian Joseph cited this as a "failure of governance at the grass-root level," and are working toward a comprehensive plastic waste strategy.
Frederic Scheer, Chairman and CEO of Cereplast, Inc. stated, "We are pleased to see the Supreme Court of India taking action toward solving its plastic pollution problems, and believe that widespread regulation of conventional plastics in the country would have a significant impact on the bioplastics industry as a whole. As the third largest consumer of conventional plastics in the world, countrywide legislation in India similar to what has been enacted in Italy would have even larger implications for bioplastics. Over a period of several months, the Application Decree in Italy created burgeoning activity and interest in bioplastic resins, and we see a similar trend happening in India. The process may take longer, however, we are very pleased to be selling our Cereplast Compostables blown film resins in India. Cereplast is poised to capitalize on these growing opportunities as they arise and continue to work with many companies in India to provide them with bioplastic alternatives. We believe, as indicated last week in our press release and during the earnings call, that we are at an inflection point and the anticipated outcome for 2013 is quite exciting. India will be an important part of our growth 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.
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| From: Savant | 5/17/2013 4:01:44 PM | | | | | | Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that Frederic Scheer, Chief Executive Officer and Michael Okada, Chief Financial Officer, will host a conference call to discuss the Company's financial results for the period ending March 31, 2013 on Monday, May 20 at 4:30 p.m. Eastern.
Conference Call Details:
Date: Monday, May 20
Time: 4:30 p.m. Eastern
Participant Dial-In: (480) 629-9712
Live Webcast: cereplast.com
It is recommended that participants dial in approximately 10 minutes prior to the start of the 4:30 p.m. Eastern call. There will also be a simultaneous live webcast of the conference call which can be accessed through the following audio feed link and archived recording of the conference call available under the Investor Relations section of the company website at cereplast.com. |
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