Company Signs Distribution Agreement with Vulcan Plastics Technology Co. Ltd. Chinese Operations
EL SEGUNDO, Calif. -- (BUSINESS WIRE) --
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 Cereplast's 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.
Cereplast's 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.
"We're very pleased to have a company of Vulcan's 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 China's 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 world's largest market, is projected at 38.9 million tonnes per annum, according to Business Standard (www.businessstandard.com).
"This agreement signals Cereplast's 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 China's 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 Cereplast's bioplastic materials in order to meet the growing demand in China."
China plastic converters interested in purchasing Cereplast bio-based resins from Vulcan Plastics Technology Co. Ltd. may call +86 755 23492008 or +86 135 3008 5585.
About Cereplast, Inc.
Cereplast, Inc. 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.
About Vulcan Plastics Technology Co. Ltd.
Headquartered in Hong Kong, Vulcan Plastics Technology Co. Ltd. is a leading supplier of high performance precision thermoforming equipment, thermoforming tooling, and plastic raw materials in China. The company has its manufacturing and distribution facility in Shenzhen, China has been specializing in designing, engineering, manufacturing and distributing precision thermoforming molds, cutting dies and other tooling devices providing a wide range of tooling, thermoforming, extrusion and injection solutions to the plastic converters in China and international markets for decades with exceptional services. For more information visit www.vulcanplas.com.
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