Cereplast enters distribution agreement in Scandinavia
"This marks our seventh distribution agreement in Europe since the start of 2011 and reflects our aggressive growth strategy and continued commitment to expanding Cereplast's distribution with local partners throughout the European continent," says Frederic Scheer, chairman and CEO of Cereplast. "The surge in demand for bioplastic materials in Europe has been fueled by new governmental policies, which started with restrictions on the use of traditional plastic bags and is now moving toward changes of the legislative landscape in the use of flexible and rigid packaging. European manufacturers are increasingly seeking out plastic alternatives to comply with these new regulations."
Under the terms of the agreement, Mastercolor will supply Cereplast Compostables® resin to product and package manufacturers in the Scandinavian region. The contract includes a minimum of four containers of Cereplast resin over the remainder of 2011—a number anticipated to grow in 2012 and beyond.
According to a study by European Bioplastics and quoted by Cereplast, global bioplastics production will surpass the 1 million ton/year mark this year, with production more than doubling from 2010 to 2015. Mastercolor will supply distributors and manufacturers in the Scandinavian market with several grades of Cereplast Compostable resins to replace traditional plastic resin in the manufacturing of products, including bags and flexible packaging, and in various foodservice-ware applications for rigid applications. All Cereplast Compostable resins are proprietary, patented formulations and include Ingeo PLA.