Cereplast Enters Distribution Agreement with Ashland to Supply Environmentally Friendly Bioplastic Resins
Wednesday, May 26, 2010 More about CereplastCereplast, Inc. (NASDAQ:CERP) ("Cereplast"), a leading manufacturer of proprietary bio-based, sustainable plastics, today announced that it has entered into a distribution agreement with Ashland Distribution, a commercial unit of Ashland Inc. (NYSE:ASH), to supply bioplastic resins to their global distribution business. This partnership reflects Cereplast's overall growth strategy and continued commitment to expanding the company's distribution reach in North America.
Ashland Distribution is a leading plastics and chemicals distributor in North America, and part of Ashland Inc., which posted more than $8 billion in annual revenue last year. Under the agreement, Ashland Distribution will distribute Cereplast Compostables(R) and Hybrids Resins(R) to converters and manufacturers throughout North America, to Canada, Mexico, Puerto Rico, and the United States. Cereplast's bioplastic resins enable Ashland Distribution to supply its customers with bio-based materials, an environmentally sustainable alternative to traditional petroleum-based plastic.
"We continue to identify key distribution partners and we are pleased to have partnered with Ashland Distribution, a major chemical company, to help provide their customers with new and innovative ways to satisfy growing consumer demand for cleaner, environmentally sustainable materials," said Mr. Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. "Ashland operates in more than 100 countries around the world, and this agreement reflects Cereplast's continued commitment to expanding its global footprint as a leading manufacturer of sustainable plastics."
"Our agreement with Cereplast enables us to address growing consumer and industrial demand for environmentally friendly plastic products," commented Michael Gilbert, vice president of plastics, Ashland Distribution. "This collaborative agreement expands our product offering and strengthens our positioning as a leading distributor of thermoplastics."
SOURCE: Cereplast, Inc.