Cereplast Begins Selling First Hybrid Resins Application in India
EL SEGUNDO, Calif., Oct. 10 /CSRwire/ - (GLOBE NEWSWIRE) -- Cereplast, Inc.(Nasdaq:CERP), a leading manufacturer of proprietary biobased, sustainable bioplastics, today announced that the Company has begun selling its first Hybrid resins application in India initially for safety helmets.
In August, Cereplast opened a corporate office in Hyderabad, capital of the Indian state Andhra Pradesh, to service its partners in South Asia and appointed a Technical Services Engineer to provide on-site services. The presence in India along with a full time support team has enabled Cereplast to evaluate new opportunities including working closely with several corporations specialized in plastic durable applications. The first application to be commercialized in India will be safety helmets made of Sustainable Biopropylene H-101.
The resins will be delivered by A.R.M.Y India, Cereplast's partner in Hyderabad who has begun importing resins from our company following the press conference held in early September.
Frederic Scheer, Chairman and CEO of Cereplast, stated, "We are excited by the growth opportunities in South Asia, and are committed to supporting our expansion in the region, particularly in India. We are pleased by this first successful order from our partner A.R.M.Y. and we are optimistic that additional orders will follow."
Mr. Scheer continued, "India is a market with a rapidly growing demand for bioplastic alternatives to conventional plastics, and we are poised to take advantage of this opportunity in the second most populous country in the world. We anticipate that this will become a major market for Cereplast."
About Cereplast, Inc.
Cereplast, Inc. (Nasdaq: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.