EL SEGUNDO, Calif., April 9, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced that its wholly owned subsidiary Cereplast Italia is strengthening its sales network with the addition of approximately seven sales agents to promote the Company's products in Italy and neighboring countries.
The sales agents will focus on Cereplast Compostables® blown film grades. This step follows the recent legislation in Italy requiring merchants to discontinue the use of traditional single-use plastic bags in favor of bioplastic bags and other alternatives. The sales agents are not employees of the Company and have been retained with a commission-based structure, so there is no cost to the company unless the agents successfully close sales.
Mr. Frederic Scheer, Chairman and CEO of Cereplast, stated, "Demand for our blown film resins have increased steadily in anticipation of the publication of the Application Decree requiring the use of bioplastic bags in lieu of traditional single-use bags. With a target date for the enforcement of the Decree in May we have retained a team of sales agents to maximize our sales opportunities. We have only begun to scratch the surface of the $500 million overall market and estimated $50 million market opportunity for us to capture with the orders we have already received. This new team of sales agents is fully prepared to help the Company take full advantage of these favorable circumstances."
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased, sustainable bioplastics which are used as substitutes for traditional plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with traditional plastics. On the cutting-edge of biobased 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 biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® resins combine high biobased 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. You may also visit the Cereplast social networking pages at Facebook.com/Cereplast, Twitter.com/Cereplast and Youtube.com/Cereplastinc.
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.