EL SEGUNDO, Calif., Jan. 18, 2012 (GLOBE NEWSWIRE) -- Cereplast, Inc. (Nasdaq:CERP), a leading manufacturer of proprietary biobased, compostable and sustainable plastics, today announced that CEO, Frederic Scheer, has provided an overview on the company's products, strategy and distribution in a CORVideo Executive Interview Video which can be found by clicking on http://www.cereplast.com/videos/corvideo-executive-interview-video-series/.
In the interview, Mr. Scheer discussed the Company's recently announced three new technologically advanced compostable resin grades which have all received DIN CERTCO certifications of compostability. This was a significant milestone for the company, as in Europe and particularly in Germany, DIN CERTCO is a large and well respected third party firm that provides certifications. With these certifications, which can take 7 to 12 months to obtain, Cereplast is one of a very limited number of companies that can go to market in Europe with these particular types of bioplastic resin.
Mr. Scheer also commented on the Company's accounts receivables with confidence in making significant progress on collections during the first quarter of 2012. The Cereplast team has already implemented new payment standards, which are being accepted by all customers and should yield stronger cash flow collection in 2012.
In an ongoing effort to continue establishing its footprint in Europe, Cereplast recently announced a three year distribution agreement with GAMA Plastik AS to supply bioplastic resin in Turkey. Mr. Scheer points out the importance of this agreement as Turkey is a leading European nation in terms of GDP growth with 9% and one of the fastest growing plastics markets in the world.
"The demand for bioplastics worldwide, and especially in Europe, is growing at a very fast rate. Cereplast is strategically positioned to supply the market with compostable, biobased and sustainable plastics due to the environmental importance of these alternatives coupled with its necessity, which is driven by new legislation enacted by various governments. We will continue to seek new certifications while introducing new products to the market and to work with the most ideal distributors who meet our strategic needs," concluded Mr. Scheer.
About Cereplast, Inc.
Cereplast, Inc. (Nasdaq:CERP) designs and manufactures proprietary biobased, sustainable plastics 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 bioplastic 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 foodservice 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, Youtube.com/Cereplastinc and Stocktwits.com/symbol/CERP.
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