Cereplast (CERP) Signs Romanian Bioplastics Distribution Deal

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11:02:03 am on January 19, 2011

Cereplast (CERP) has signed a distribution deal with Euroink Romania providing bioplastic resins to the Romanian marketplace.  Just a few days ago the company announced a distribution deal with BioWorks to supply the Polish market. Last September they signed a distribution deal with Sezersan Ambalaj to introduce bioplastics to the Turkish market, so the company continues its aggressive expansion in the European market.

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“We are thrilled to work collaboratively with Euroink Romania to provide the Romanian market with the bio-based resin needed to meet surging demand for bioplastic materials across Europe,” said Frederic Scheer, Chairman and CEO of Cereplast, Inc. “This partnership reflects Cereplast’s aggressive growth strategy and continued commitment to expanding the company’s distribution with local partners throughout Europe. Eastern Europe is an important geographic region for us as it serves as the continent’s manufacturing hub.”

Shares of CERP have been on a tear in the past few months, more than doubling in price and currently trade at an all time high up around the $6 level.  It’s no surprise than that the stock is way overbought and due for a pull  back.  The area around the previous high (in the 5.50 – 5.60 range) may provide a new support level for the stock.  This bioplastics leader is an exciting company leading the revolution for more earth friendly packaging and should be on the watch list of any “green” investor.

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