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Cereplast enters agreement with CRS Technologies to supply bioplastic resins

May 12/2010

EL SEGUNDO (Business Wire) -- Cereplast, Inc., a leading manufacturer of proprietary bio-based, sustainable plastics, today announced that it has entered into an exclusive distribution agreement with Kuala Lumpur-based CRS Technologies Sdn. Bhd. to supply bioplastic resins in Malaysia. This new agreement supports CRS Technologies’ goal of expanding its product line by offering its custom sustainable solutions for functional plastic coatings in various applications.

 

Under the agreement, CRS Technologies will utilize both Cereplast Compostables and Hybrids Resins in its manufacturing process for customers throughout Malaysia. All Cereplast resins replace a significant percentage of petroleum-based additives with starches made out of corn, wheat, tapioca and potatoes or Ingeo PLA, allowing bioplastics to return back to nature within 180 days of disposal for the Compostables or offering a more sustainable alternative with Hybrids resins for durable applications. Malaysia is a net importer of resins from the United States, which provides 10% of the country’s supply. Cereplast’s bioplastic resins allow CRS to supply its customers with new bio-based materials and fulfill their demand for more environmentally sustainable solutions.

 

“CRS Technologies’ decision to choose Cereplast’s bioplastic resins highlights its commitment to innovation by offering its customers an alternative to traditional petroleum-based plastics, that is functionally equal and reduces the impact on the environment,” stated Mr. Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “This follows on our recently announced expansion into China and is an important part of our growth strategy, as we engage strong Asian distribution partners such as CRS that are promoting increased awareness regarding the benefits of our bioplastic/compostable resins within key geographic regions around the world.”

 

According to estimates by market research group Freedonia, the global demand for bioplastic resins that are biodegradable will rise more than fourfold to 900,000 metric tons in 2013, valued at $2.6 billion. Within the next decade, the global bioplastics market share is expected to jump up by 25% to 30%.

 

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Cereplast enters exclusive distribution agreement with CRS Technologies to supply bioplastic resins

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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