Cereplast Inc (OTCMKTS:CERP) Continues To Fall
On Tuesday, Cereplast Inc (OTCMKTS:CERP) reported that that it had received the $1.4M purchase-order for the company’s Cereplast Biopropylene-101 from Dugar Eximark Private Limited that is based in Hyderabad in India. Over the next 10 months, Cereplast Inc (OTCMKTS:CERP) will ship the required material from the existing inventory. This inventory will be shipped mainly from Europe.
The product properties
Biopropylene 101 is a segment of the family of resins called Cereplast Sustainables. It provides a much lower carbon-footprint in comparison to traditional plastic resins, even as it maintains numerous desirable conventional Polypropylene properties, such as chemical-resistance, mold-shrinkage, mold-flow, surface-appearance, heat-deflection temperature and hinge-performance. Dugar Eximark is slated to use this Cereplast Biopropylene 101 in the manufacture of furniture, toys and in building construction-materials that will be distributed in South Asia.
In Wednesday’s trading, Cereplast Inc (OTCMKTS:CERP) dropped by 11.73%. The opening price of the shares was $0.02, which was also the intraday high and dipped to a close of $0.014. Approximately 8.82 million shares were traded on Wednesday while an average volume of 11.92 million shares were traded over a 30 day period. The 52-week low of Cereplast Inc (OTCMKTS:CERP) shares is $0.01 and its 52-week high is $0.29. The company has a market capitalization of $10.30 million.
About the company
Cereplast Inc (OTCMKTS:CERP) is involved in the development and commercialization of bio-based resins through its product families: 1) Cereplast Compostables Resins- these are renewable, compostable, ecologically-sound substitutes for various petroleum-based plastics, and 2) Cereplast Sustainables resins –this replaces upto 90% of petroleum-based content of other traditional plastics with various materials from different renewable resources.
Cereplast Inc (OTCMKTS:CERP) mainly conducts its operations via product families, like Cereplast Compostables resins, Cereplast Algae Plastic resins and Cereplast Hybrid Resins and. In 2011 October Cereplast Inc (OTCMKTS:CERP) acquired a manufacturing plant in Assisi.