Packaging
Cereplast, Inc. to Distribute Bioplastic Resins in Southern China
Friday 23. April 2010 - Company Signs Distribution Agreement with Vulcan Plastics Technology Co. Ltd. Chinese Operations
Cereplast, Inc. (NASDAQ: CERP)(“Cereplast” or the “Company”), a leading manufacturer of proprietary bio-based, sustainable plastics, today announced that it has added one regional distributor, S&P Sourcing Co. Ltd. a Hong Kong-based company operated as Vulcan Plastics Technology Co. Ltd. (“Vulcan”) in China, to distribute Cereplasts bio-based resins in southern China.
Headquartered in Hong Kong, Vulcan is a leading supplier of high performance precision thermoforming machine, thermoforming tooling, and plastic raw materials in China. The company has its manufacturing and distribution facility in Shenzhen, China, which is operated as Vulcan Plastics Technology Co. Ltd.
Cereplasts bio-plastic resins will enable Vulcan to offer new bio-based materials to its plastic converter customers interested in more environmentally-friendly solutions. Under the agreement, Vulcan will distribute Cereplast Compostables and Hybrids Resins to converters and manufacturers in Guangdong and Fujian provinces, which hold one of the largest industrial plastic manufacturing centres in China.
“Were very pleased to have a company of Vulcans caliber offering Cereplast bioplastic resins to its plastic converter customers and brand name owners in southern China,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast. “This will help us to expand our business in the largest emerging market in Asia for bioplastics.”
Boasting a 15,000-square-foot tooling plant and a 20,000-square-foot warehouse in Shenzhen and serving virtually every market of plastic conversion in southern China, Vulcan has rapidly become the choice for customers in Chinas diverse plastic industry, one of the largest consumer markets for plastics in the world. By 2012, plastics consumption in China is expected to reach approximately 38.8 million tonnes per annum, while consumption of plastics in the United States, the worlds largest market, is projected at 38.9 million tonnes per annum, according to Business Standard (www.businessstandard.com).
“This agreement signals Cereplasts long-term commitment to serving China plastic converters and brand name owners and enables us to offer a full range of services in local warehousing, distribution, technical support and sales & marketing for the supply of our bio-based resins in China. We are very pleased to move forward in offering sustainable solutions to meet the needs of Chinas manufacturing industries for the low-carbon ‘green’ initiatives with renewable resources,” said Simon Huang, Cereplast Regional Sales Director for Asia.
“We are very excited to bring Cereplast onboard and add further value in serving our existing plastic converter customers and brand name owners who are looking to meet sustainability objectives,” said Simon Teng, President of Vulcan. “We are certain that bioplastics have a bright future in China and we are fully committed to promoting Cereplasts bioplastic materials in order to meet the growing demand in China.”