Cereplast Signs New Distribution Agreement With ColorTec
Agreement Reflects Continued Demand in European Marketplace
"With the signing of this significant agreement, ColorTec intends to purchase $20 million of product in 2012 and becomes Cereplast's main distribution partner in Italy," said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. "The expansion of this agreement reflects the increasing demand for our bioplastic products in Italy, where we have recently completed the purchase of a manufacturing plant, expected to start production in 2012. We look forward to continuing our already strong relationship with ColorTec to expand our footprint in Italy."
"We have been serving Southern Italy and will be broadening our reach to capture increasing demand in Northern Italy," stated Gaetano Paolillo, chief operating officer of ColorTec. "We find that Cereplast bioplastics provide superior properties compared to other bioplastic resins, providing better performance and improved strength. As such, we expanded our relationship with Cereplast."
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.