Cereplast, a manufacturer of biologically made plastics in El Segundo, has entered into an agreement to supply bioplastic resins to customers in Chile and Peru.
In Chile, Cereplast’s products will allow the country’s manufacturers to fulfill their need for more environmentally friendly materials. Cereplast’s resins replace petroleum-based chemicals with starches from corn, wheat, tapioca or potatoes. The bioplastics return to nature within 180 days of disposal.
The distribution agreement is with ATSA Chile LE in Santiago. It distributes industrial chemicals, polymers and plastics.
“This expansion was largely made possible by the major success we’ve experienced in Brazil,” Cereplast Chief Executive Frederic Scheer said in a statement.
By late morning Wednesday, shares of Cereplast declined 15 cents or 3 percent to $5.65 in over-the-counter trading.
For reprint and licensing requests for this article, CLICK HERE.