Bioplastics manufacturer Cereplast Inc. has announced it generated approximately US$300,000 in new revenue during the final two weeks of January 2013.
According to the El Segundo, Calif.-based company, the new revenue is in addition to the US$500,000 in revenue announced in mind-January.
Cereplast attributes the most recent set of orders to the bioplastic demand in Italy that is resulting from the country’s ban of traditional plastic bags. “The Italian Application Decree, which mandates that companies discontinue the use of traditional plastic bags in favor of bioplastic bags or other alternatives, continues to drive demand for Cereplast Compostables blown film grades,” said the company in a statement, noting that the next milestone will be the formal publication of the decree, which is expected to further increase demand for bioplastic film.
The Italian parliament voted on Dec. 13, 2012 to confirm proposed sanctions on companies using traditional plastic bags. Once the Application Decree is officially published Italian companies will have 60 days to switch to bioplastic bags or other alternatives.
"The Italian market for bioplastic blown film is once again gaining momentum," said Frederic Scheer, Cereplast chairman and CEO. "As a result of government legislation and mandates being passed down by the Italian parliament, the sales trend is continuing. We anticipate demand from this key region to approach similar sales volumes that we experienced in 2011. We are encouraged by the sales data we are analyzing, which is pointing to a strong 2013."