Packaging

Casey Container Corp. Receives First International Order For Biodegradable Plastic Bottle Preform Products

Thursday 09. December 2010 - Company Receives Third Biodegradable Plastic Bottle Preforms Order - Latest Order From Bottled Water Company in Grenada

Casey Container Corp. (OTCBB:CSEY) today announced that it has received its first international purchase order from a bottled water company based in the Island Nation of Grenada – representing the third order in less than two weeks. The latest order provides for Casey to supply approximately 300,000 biodegradable preforms on a weekly basis over a one-year period for use in the manufacture of biodegradable plastic bottles.
Casey Container holds a license to EcoPure, a revolutionary second-generation proprietary and organic additive, which – once added to a resin used to produce plastic bottle preforms – renders the plastic biodegradable. The Company’s biodegradable preforms are made of PET, HDPE and other conventional polymers, thus offering the same performance and cost effective advantages of conventional plastics. By introducing EcoPure into the manufacturing process, Casey expects to produce truly biodegradable products that break down into harmless bio-gases and bio-mass over time in anaerobic environments, such as landfills.
While currently biodegradable plastics comprise less than one percent of total plastics global usage, the materials are gaining market strength. In fact, the Freedonia Group, an international business research company, released a study in December 2009, titled “World Bioplastics to 2013,” which stated that demand for bioplastics will grow 35.1% annually from 2009-2013, with the fastest growth expected in the Asian-Pacific region, followed by Western Europe and North America.
This third order, along with previously announced preform orders from bottled water companies, puts Casey Container on pace to begin producing 750,000 preforms each week. The combined orders are currently valued at $3.2 million in revenue to the Company over the first year.
Terry Neild, Chairman of Casey Container, states, “It should come as no surprise that there are several international bottling and container companies who have approached us about using our biodegradeable preform solution. Based on prevailing legislation and environmental mandates, many are anxious to source plastic preforms from us, as exemplified by this order from a company in Grenada.”
“We are on track to deliver over 38.6 million preforms and bottles in 2011 from current orders with an initial capacity of about 100 million in 2011, given that we meet our anticipated production ramp-up schedule,”, Neild adds.