Cereplast (CERP) Signs Another European Distribution Deal (Croatia)

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08:31:17 pm on March 24, 2011

Cereplast (CERP) continues to sign distribution deals across Europe for its bioplastics resins used for the production of biodegradable packaging.  This time the company has landed a one year deal with Croatian based DMT Plasticor which provides DMT with exclusive distribution rights in Croatia.  The deals opens the door for DMT to begin replacing petroleum based packaging for food products in Croatia with more earth friendly packaging made from corn, wheat, tapioca, potatoes and algae.

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“We’re proud to partner with DMT Plasticolor to help bring bioplastic materials to the Croatian market. This marks Cereplast’s fourth distribution agreement in 2011, a clear indication of a soaring market in Europe for bioplastic resin,” said CEO Frederic Scheer.

Shares of CERP have really been on a tear since late last year when they began announcing these European distribution deals.  Shares are currently in a basing phase, but remain quite bullish having surged back above the 50 day moving average in recent days.  This bioplastics leader is definitely a company to keep on the radar.

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