Press Release, August 7, 2006
HAWTHORNE, Calif & RICHMOND, Va. & HIGHLAND PARK, Ill. -- Cereplast, Inc. (OTCBB:CERP), producer of proprietary bio-based resins, global packaging company MeadWestvaco Corporation (NYSE:MWV), and Solo Cup Company today announced that MeadWestvaco is completing development of a fully renewable and biodegradable (or compostable) extrusion-coated paperboard product made with Cereplast resins that Solo can manufacture into cups.
This groundbreaking application will address customer interest in compostable foodservice products that are made from renewable resources. Until now, the plastic coating for laminated paper and foodservice packaging has been produced from petroleum-based resins. The Cereplast coating, with a heat resistance of 220 degrees Fahrenheit, will be used to replace petroleum-based coatings in MeadWestvaco's laminated paper products manufactured for Solo. With this breakthrough, Solo will be able to produce cups and other paper goods made from renewable resources that are suitable for composting in an industrial facility. Initial targets include the growing number of cafeterias and foodservice operations that divert their organic wastes to composting facilities.
The Biodegradable Products Institute (BPI) has granted MeadWestvaco and Cereplast the first-ever use of its logo for coated paperboard (including corrugated cardboard) with thicknesses of 4.6 pt to 32 pt. Products bearing the BPI logo meet ASTM D6868 and are designed to biodegrade quickly, completely and safely, without leaving any plastic residue in commercial and municipal composting facilities.
Cereplast resins are formulated from a patented and proprietary manufacturing process that incorporates starch and other degradable components, including poly lactic acid (PLA) from NatureWorks, LLC. Cereplast resins can be substituted for petroleum-based resins in a wide variety of processes, including injection molding, extrusion and thermoforming.
"MeadWestvaco and Solo's perseverance in working with us to achieve this milestone clearly demonstrates their commitment to extending the renewability of their paper products to coatings, creating a fully degradable option for paper foodservice and packaging solutions," said Frederic Scheer, President and CEO of Cereplast.
Added Kevin Fortney, Business Manager -- Foodservice, MeadWestvaco, "Cereplast's resins offer a flexible, practical solution to demand for renewable and degradable paper-coatings. Working together, we are creating a product that will have a wide range of applications. We are especially gratified that this is the first such product to receive certification by the BPI."
Noted Bob Korzenski, President and Chief Operating Officer, Solo Cup Company, "Solo has a history of solving problems for its customers and consumers through innovation in disposable foodservice products, materials and processes. We are excited to contribute our expertise in developing and manufacturing environmentally friendly products to our work with MeadWestvaco and Cereplast."
About Cereplast, Inc.
Cereplast, Inc. (OTCBB:CERP) designs and manufactures proprietary starch-based, renewable plastics. Cereplast has developed a breakthrough technology to produce proprietary bio-based resins, which are used as substitutes for petroleum-based plastics, offering price stability and competitive costs compared to traditional resins. Cereplast resins can be used in all major converting process such as injection molding, thermoforming, blow molding and extrusions. Made from renewable resources such as corn and potato starch, Cereplast resins are certified biodegradable and compostable by BPI (Biodegradable Products Institute) and have comparable or superior performance characteristics to conventional plastics and return to nature quickly and safely. Learn more at: http://www.cereplast.com
About MeadWestvaco Corporation
MeadWestvaco is a global packaging company that delivers high-value packaging solutions and products to the world's most recognized companies in the food and beverage, media and entertainment, personal care, cosmetic and healthcare industries. The company also has market-leading positions in its Consumer & Office Products, Specialty Chemicals and Specialty Papers businesses. MeadWestvaco, with operations in more than 29 countries, has been selected for the Dow Jones Sustainability Indexes, and manages all of its forestlands in accordance with internationally recognized forest certification standards. For more information, please visit www.meadwestvaco.com.
About Solo Cup Company
Solo Cup Company is a $2.4 billion company exclusively focused on the manufacture of disposable foodservice products for the consumer/retail, foodservice, packaging and international markets. Solo Cup has broad expertise in paper, plastic and foam disposables and creates brand name products under the Solo, Sweetheart, Fonda and Hoffmaster names. The Company was established in 1936 and has a global presence with facilities in Asia, Canada, Europe, Mexico, Panama and the United States. To learn more about the Company, visit www.solocup.com.
About Biodegradable Products Institute
BPI is a multi-stakeholder group, involving people and organizations that produce, use or recover biodegradable plastic products. It promotes the growth of biodegradable plastics through education, use of scientifically-based standards and cooperative efforts with organizations in Europe and Asia. To learn more, visit the BPI website at www.bpiworld.org.
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently, and other factors detailed in reports filed by the Company.
Read More...
Summary only...
Posts
