Expands the Company's Distribution throughout Southeast Asia
EL SEGUNDO, Calif. - June 2, 2010 - Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary bio-based, sustainable plastics, announced today that it has entered into an exclusive distribution agreement with Thailand-based Alphani International Co., Ltd. to supply bioplastic resins throughout Southeast Asia.
Cereplast's bioplastic resins will enable Alphani International to supply its customers with new bio-based materials to fulfill their growing demand for more environmentally-friendly solutions. This agreement follows a series of distribution agreements overseas, including Europe, South America, Malaysia and Southern China, and is another indication of the rapid growth in the market for Cereplast's bio-based resins, as well as the Company's ability to supply a major channel of distribution.
"We are excited that Alphani International has chosen Cereplast to provide bioplastic resins in Southeast Asia and admire their commitment to reduce the impact that petroleum-based plastics have on the environment," said Mr. Frederic Scheer, founder, chairman and CEO of Cereplast, Inc. "This agreement broadens our supply of bio-based resins to distribution partners in Southeastern Asia who are capable of promoting increased market awareness and adoption of our bioplastic/compostable resins in key markets around the globe."
Alphani International, a member of the Thai Bioplastics Industry Association, is one of the most trusted worldwide chemical suppliers in the region with a progressive track record, and has quickly established a reputation as a reliable business partner with efficient services for industries including plastics, printing ink, paint, rubber, adhesive, ceramic and paper. According to market research, Thailand, with its abundance of raw materials, remains highly competitive in this sector and has an opportunity to play a significant part in an industry that is growing by 20% to 35% globally per year.
Plastics processors purchasing Cereplast's bio-based resins will benefit from the many advantages that Alphani International offers, including local inventory and stocking programs, technical service, broad product line, and professional sales staff.
About Cereplast, Inc.
Cereplast, Inc. (NASDAQ:CERP) designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with petroleum-based plastics. On the cutting-edge of bio-based 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 bio-based content and compostability are advantageous, especially in the food service industry. Cereplast Hybrid Resins® combine high bio-based 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.