Matternetwork.com - As expected, bioplastics extraordinaire Cereplast (CERP)reported another quarterly loss which matched analyst estimates. The company reported a loss of .12/share on revenues of $7.2 million. The quarter represented a big spike in quarterly revenues as the company expands rapidly in Europe. With plans for a new plant in Italy, the expansion should continue quickly as many municipalities move to ban petroleum based plastic bags.
“The first quarter 2011 results reflect the initial quarter of significant revenues for the company and demonstrate the momentum of our business as we continue to benefit from legislation banning the use of plastic bags and suggesting the use of bioplastic in the European Union and other emerging markets, as well as the higher cost of commodities,” said Frederic Scheer, Chairman and Chief Executive Officer of Cereplast.
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Plasticnews.com – Bioplastics supplier Cereplast Inc. has announced financial results for its first quarter, which ended March 31. The company’s sales reached $7.2 million, compared with $319,000 for the same period in 2010.
“The first quarter 2011 results reflect the initial quarter of significant revenues for the company and demonstrate the momentum of our business as we continue to benefit from legislation banning the use of plastic bags and suggesting the use of bioplastic in the European Union and other emerging markets, as well as the higher cost of commodities,” said Frederic Scheer, chairman and CEO.
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Thestreet.com – Cereplast, Inc. (NASDAQ: CERP), a leading manufacturer of proprietary biobased, compostable and sustainable plastics, today announced it is establishing a bioplastics manufacturing plant in Assisi (Cannara), Italy.
“This is a significant step in Cereplast’s evolution,” said Frederic Scheer, Chairman and CEO of Cereplast. “The development of this plant in Italy reflects Cereplast’s continued commitment to providing bioplastic resin to meet soaring demand for this material in the European market. After exploring possible sites in several countries in Europe, we identified a central location in Italy, where we have established several strong distribution relationships. In addition, the Italian government has expressed its strong support for the development and use of bioplastics, therefore it was the obvious location choice for our plant.”
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Huffingtonpost.com – …Cereplast, a manufacturer of bio-based, compostable plastics, has announced a new symbol to represent bioplastics. Bioplastics are considered by many to be an eco-friendly alternative to petroleum-based plastics. They are made from renewable resources such as potatoes, corn, wheat, tapioca, sugar and algae.
Cereplast held a “Make Your Mark” contest for designers to create a new symbol so that consumers could identify products and packaging made from bioplastics. The winner of the contest was Laura Howard, a graphic design student at the University of Louisville in Kentucky, who was awarded $25,000 for her design.
The competition was modeled after a 1970 contest that resulted in the globally recognized recycling symbol. One of the judges for the “Make Your Mark” competition was Dr. Gary Anderson, the creator of the recycling symbol. In a press release from Cereplast, Anderson said, “Cereplast’s bioplastic symbol could likely gain traction much faster than the recycling symbol I designed, as communication in today’s digital landscape runs at lightning speed compared to forty years ago.”
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Latimes.com – The bioplastics industry may have a new symbol to slap on its products and packaging – an abstract plant to denote plastics made without petroleum.
More than 1,500 designers submitted entries into a contest seeking an icon to represent plastics created using potatoes, corn, wheat, tapioca, sugar, algae and other natural materials.
The competition, backed by El Segundo bioplastics maker Cereplast Inc., was inspired by the 1970 contest that produced the image of three green arrows now ubiquitously as the emblem of recycling.
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CNBC.com — …The plant plastics are in autos and the liners of coffee cups. Dorel Industries, a Canadian company that makes baby furniture, developed a line blended with Cereplast’s bio-resins, to meet Wal-Mart’s demands for products with a smaller “carbon footprint,” says Cereplast CEO Frederic Scheer.
“It’s under consumer pressure, client pressure, that Dorel decided to switch,” Scheer says. “It wasn’t a financial incentive.”
The bioplastics industry has been growing at a rate of 35 percent a year since 2008 and is expected to reach $5 billion by 2018, according to Furst’s December 2009 report for the Freedonia Group. Still, that’s a tiny fraction — just 0.1 percent — of total global plastics demand, Furst says…
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Biorefining Magazine — El Segundo, Calif.-based Cereplast Inc. has entered into a distribution agreement with DMT Plasticolor to supply its proprietary blend of bioplastic resins to the Croatian market.
Under the terms of the agreement, DMT Plasticolor will exclusively distribute Cereplast’s trademarked Compostables Resins and Sustainables Resins to product and package manufacturers in Croatia. The company’s bioplastic resins enable DMT Plasticolor to supply its customers with plastic alternatives made from renewable resources, including corn, wheat, tapioca, potatoes and algae. The agreement calls for 100 tons of Cereplast resin per month for one year…
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