Bioplastic products maker Trellis Earth Products buying Cereplast assets
Canadian Plastics
Sustainability Green DevelopmentTrellis Earth Products, a manufacturer of bioplastic foodservice disposables, has acquired the assets of bankrupt bioplastics supplier Cereplast Inc. for US$2.6 million.
Trellis Earth Products, a manufacturer of bioplastic foodservice disposables, has acquired the assets of bankrupt bioplastics supplier Cereplast Inc. for US$2.6 million.
The sale includes Cereplast’s former bioplastics factory in Seymour, Ind.
“We have long wanted to mark our products as ‘Made in the US’,” Mike Senzaki, Trellis Earth CEO, said in a news release. “The acquisition of this factory will enable to us to quickly become the preeminent American supplier of bioplastic foodservice disposables.”
Headquartered in Portland, Ore., Trellis Earth is a privately held company with nearly US$20 million of sales since its founding in 2007.
The Indiana-based Cereplast filed for bankruptcy in February 2014. The company had reported a net loss of US$34 million on sales of US$2.1 million for the nine months ended Sept. 30, 2013.
