DGAP-News: Italian Senate Approves Plastic Bag Sanctions
(firmenpresse) - Cereplast, Inc.
12.02.2013 14:00
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Significant Revenue Opportunity Expected From Italy and Other European Nations
That are Exploring Similar Sanctions
EL SEGUNDO, Calif., 2013-02-12 14:00 CET (GLOBE NEWSWIRE) --
Cereplast, Inc. (OTCQB:CERP), a leading manufacturer of proprietary biobased,
compostable and sustainable bioplastics, is pleased to announce that the
Italian Senate approved the legislation that mandates the discontinuation of
traditional single-use plastic bags in favor of bioplastic bags or other
alternatives, and penalizes those who continue to use traditional plastic bags.
Senator Francesco Ferrante announced the approval of the Application Decree
last week stating, 'Finally, we will make Italy the first plastic-free European
country for the single-use plastic bag sector.' The Decree has been signed by
the Ministers and is currently undergoing the proper administrative process
toward formal publication. The sanctions will then become effective and
applicable 60 days from publication.
Merchants must make the switch to biodegradable and compostable bags and stop
using traditional single-use plastic bags within 60 days from the date of
publication, or sanctions for non-compliance will be enforced. The fines for
non-compliance range between [Eur]2,500 and [Eur]25,000, and may be increased up to
four times the maximum violation if it applies to large quantities of bags, or
if the value of the goods exceeds 20% of the total use of the offender.
Italian Minister of the Environment Corrado Clini stated, 'The opinion
expressed by the Senate is an important step to actually make our country
plastic-free. We will constantly monitor compliance to ensure that this
objective can be achieved quickly and effectively.'
The Application Decree specifies the following:
-- Disposable bags used for the removal of goods must be compostable in
accordance with the European standard for compostability: EN 13432:2002
-- Reusable bags with an external handle that are composed of polymers that do
not meet EN 13432:2002 with a thickness exceeding 200 microns must contain
a minimum 30% recycled plastic if intended for food use; the thickness must
exceed 100 microns and contain a minimum 10% recycled plastic if not
intended for food use.
-- Reusable bags without an external handle that are composed of polymers that
do not meet EN 13432:2002 with a thickness greater than 100 microns must
contain 30% recycled plastic if intended for food use; the thickness must
exceed 60 microns and contain a minimum 10% of recycled plastic if not
intended for food use.
-- Reusable bags for the removal of goods made from paper, fabrics made from
natural fibers, polyamide fibers and materials other than polymers are
permitted
-- The law does not permit the use of oxo-biodegradable additives
In the wake of this news, Arnaud Montebourg, the French Minister of Industrial
Renewal, stated, 'Like Italy, France favors the use of biodegradable plastic
bags for all single-use bags. An important first step by the end of the year
will be to encourage the use of biodegradable shopping bags.'
Mr. Frederic Scheer, Cereplast Chairman and CEO, commented, 'The Senate
approval of the Application Decree is a significant milestone for the
bioplastics industry, which consequently presents Cereplast with significant
revenue opportunities in the Italian marketplace. We will continue to serve the
Italian market with our proprietary, compostable blown film resins while
preparing for the anticipated increase in demand once the sanctions are fully
implemented. We are happy to see that other countries such as France plan to
take Italy's lead with the adoption of bioplastic alternatives.'
The European Union considered extending the Italian legislation to all of
Europe, but delayed these efforts for a year or two due to the recession. The
European market volume for flexible packaging is approximately [Eur]20 billion.
Italy represents 25% of this market volume at approximately 900,000 tons per
year, with several hundred million euro potential revenue for the bioplastics
industry in 2013.
Cereplast has benefited from the impact of this pending legislation as Italian
companies prepare for the coming sanctions. Cereplast recently reported revenue
totaling $800,000, largely as a result of these positive developments, and
sales data points toward similar sales volumes from the region as experienced
in 2011. See the following releases for more information:
Cereplast Announces $500,000 in New Revenue and Provides 2013 Outlook
Cereplast Provides Shareholder Update on Italian Application Decree&Announces
$300,000 in New Revenue
About Cereplast, Inc.
Cereplast, Inc. (OTCQB:CERP) designs and manufactures proprietary biobased,
sustainable bioplastics which are used as substitutes for traditional plastics
in all major converting processes - such as injection molding, thermoforming,
blow molding and extrusions - at a pricing structure that is competitive with
traditional plastics. On the cutting-edge of biobased plastic material
development, Cereplast now offers resins to meet a variety of customer demands.
Cereplast Compostables(r) resins are ideally suited for single-use applications
where high biobased content and compostability are advantageous, especially in
the food service industry. Cereplast Sustainables(r) resins combine high biobased
content with the durability and endurance of traditional plastic, making them
ideal for applications in industries such as automotive, consumer electronics
and packaging. Learn more at www.cereplast.com. You may also visit the
Cereplast social networking pages at Facebook.com/Cereplast,
Twitter.com/Cereplast and Youtube.com/Cereplastinc.
The Cereplast, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=9567
CONTACT: Cereplast, Inc.
Public Relations
Nicole Robertson
(310) 615-1900 x154
nrobertson(at)cereplast.com
Investor Relations:
Alliance Advisors, LLC
Alan Sheinwald
914-669-0222
asheinwald(at)allianceadvisors.net
Valter Pinto
914-669-0222 x201
valter(at)allianceadvisors.net
www.AllianceAdvisors.net
News Source: NASDAQ OMX
12.02.2013 Dissemination of a Corporate News, transmitted by DGAP -
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The issuer is solely responsible for the content of this announcement.
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