SEYMOUR, Ind., July 23, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (OTCQB:CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, has strengthened its North American sales team through the appointment Mr. Reddy Tudi as Vice President of Business Development and Mr. Kevin J. Fina as Regional Sales Manager. Together, Mr. Tudi and Mr. Fina are working on approximately 30 projects in North America for Cereplast Compostables® blown film and blow molding resins, as well as Cereplast Sustainables® resins for injection molding applications. The potential volume of these projects is $10MM per year.
Mr. Tudi has over sixteen years of experience in sales and marketing, project management and techno-commercial operations with an emphasis in the renewable, automotive and aerospace industries. Prior to joining Cereplast, Mr. Tudi was the Director of Sales for Renewable Energy at the Freudenberg Group, and the Vice President of Solar Project Development at NanoBright Solar Technologies. He has an Executive MBA from Ohio State University and a Bachelor of Science in Mechanical Engineering from the University of Massachusetts. As Vice President of Business Development for Cereplast, Mr. Tudi will focus on the Eastern Region of North America.
Mr. Fina has over thirty years of experience developing innovative recreational plastic products including prototype development, product manufacturing, supply procurement and distribution, as well as supplying compounded materials for a variety of industries including automotive, aerospace, personal care and recreation. As Regional Sales Manager for Cereplast, Mr. Fina will focus on the Western Region.
Chairman and CEO of Cereplast Mr. Frederic Scheer commented, "There is demand for our products globally and we are constantly evaluating these opportunities. North America continues to be a market where we are focused on developing sales and fostering growth. We believe the addition of Mr. Tudi and Mr. Fina will further our traction in the United States and Canada, and feel optimistic about the potential volume their current projects represent. Our encouraging development in Italy, the USA and India should be a significant part of our revenue in 2013."
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® resins are ideally suited for single-use applications where high biobased content and compostability are advantageous, especially in the food service industry. Cereplast Sustainables® 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.
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.
CONTACT: Cereplast, Inc. Public Relations Nicole Robertson 812.220.5400 X1013 firstname.lastname@example.org Investor Relations: Alliance Advisors, LLC Alan Sheinwald 914-669-0222 email@example.com Valter Pinto 914-669-0222 x201 firstname.lastname@example.org www.AllianceAdvisors.net