Cereplast (CERP) is an exciting company and a leader in the bioplastics movement as regulation, particularly in Europe, increases demand for biodegradable containers and packaging. However, as revenues continue to soar over the year ago period, the company isn’t getting any closer to profitability. That will have to change soon or the stock won’t get off the ground like it did a few months back.
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As expected, bioplastics extraordinaire Cereplast (CERP) reported another quarterly loss which matched analyst estimates. The company reported a loss of .12/share on revenues of $7.2 million. The quarter represented a big spike in quarterly revenues as the company expands rapidly in Europe. With plans for a new plant in Italy, the expansion should continue quickly as many municipalities move to ban petroleum based plastic bags.
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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.… Read the rest
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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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 will be covering a new green stock here at Green Stocks Central. Cereplast (CERP), bioplastics extraordinaire, debuted with its IPO back in April, but it’s been a downward slide in the stock ever since. After reaching a high of 5.74 just a couple days after trading on the Nasdaq, it has plummeted to 3.50 and touched below 3 a few days ago. It has been a wild ride.