HAWTHORNE, Calif.--(BUSINESS WIRE)--Cereplast, Inc. (OTCBB:CERP), manufacturer of proprietary bio-based, sustainable plastics, today announced that it has signed a distribution agreement with A. Schulman, a leading international supplier of high-performance plastic compounds and resins used as raw materials in a variety of markets.
Cereplast’s families of bioplastic resins will enable A. Schulman to launch a new offering of bio-based material to its customers interested in more environmentally-friendly solutions. Under the agreement, A. Schulman will distribute Cereplast Compostables® and Hybrids Resins® to converters and manufacturers in France, Benelux and Spain. Notably, in France, A. Schulman is the leading supplier of plastics and additives to plastic molders and converters.
“A. Schulman is one of the largest and most highly-regarded plastics suppliers in the world,” said Frederic Scheer, Chairman and CEO of Cereplast. “We’re very pleased to have a company of this caliber offering Cereplast resins to its customers in these European countries.”
Serving virtually every market in every corner of the world, A. Schulman’s products have rapidly become the materials of choice for customers in diverse industries including automotive equipment components, construction and home improvement products, film and packaging, medical, telecommunications, toys and others.
“Launching this collaboration with A. Schulman is a great step forward for Cereplast Europe. Their team of experienced, plastics-focused resources will enable Cereplast to expand its market presence in several key European countries, and improve our ability to serve a full range of customers,” said Jerome Raphanaud, Senior Vice President of Cereplast Europe. “We look forward to working together with Schulman to accelerate the adoption of bio-plastics in Europe.”
About A. Schulman
Headquartered in Akron, Ohio, A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The Company employs about 2,200 people and has 14 manufacturing facilities in North America and Europe (including Asia). Revenues for the fiscal year ended August 31, 2007, were $1.8 billion. Additional information about A. Schulman can be found at www.aschulman.com.
About Cereplast, Inc.
Cereplast, Inc. (OTCBB: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 extrusion – 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 Compostable® 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.
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.
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