Cereplast (CERP) Inks Multi Million Distribution Agreement With Turkish Company For Bioplastic Packaging

Cereplast (CERP) a leading manufacturer of compostable and sustainable plastics, has announced a multi million dollar partnership with Sezersan Ambalaj (Sezersan), a subsidiary of Asc Group in Turkey, to produce bio twist films made from Cereplast Compostables(R) resins which has form memory and is heat sealable.  The patented product will serve as wrap packaging for a variety of food products distributed throughout Europe.

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“We are honored to partner with Sezersan and be the first to market with bio twist films which offer an environmentally sound alternative for their clients’ packaging needs,” said Frederic Scheer, Founder, Chairman and CEO of Cereplast, Inc. “Companies are increasingly looking at bio-plastics as an alternative to petroleum-sourced plastics in order to meet growing consumer and industrial demand for economically and ecologically sound, ‘green’ products.”

Shares of CERP are up about 6% today and breaking out of a bullish wedge formation on the daily chart.  It’s a very compelling play down at these levels. 

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