Cardia Bioplastics Signs Supply Contract with Ricoy Supermercados in Brazil

Ricoy Supermercados, one of the largest supermarket chains in Brazil has ordered 150,000 US dollars’ worth of bags from Cardia Bioplastics Ltd. over a time period of four months and has validated the product quality. The companies have signed an annual supply contract with an estimation of 5 million bioplastic bags per month based on the initial supply order.

Cardia has entered Brazil at a very promising time as Brazil, which is South America’s largest consumer nation, will be hosting the 2014 FIFA World Cup and the 2016 Olympic and Paralympic Games. The change is legislation in Brazil has also increased the demand of compostable bags.

Dr Frank Glatz, the Managing Director of Cardia Bioplastics says that they are very excited about the contract and are happy to be entering the nation alongside a true leader like Ricoy Supermercados. He also mentions the potential of growth that Brazil presents for Cardia and how he hopes that the presence of a local team will help their company grow further. The local team headed by Joao Paulo Mignot has come up with both the resources and the infrastructure required to penetrate the Brazilian plastics market.

This Brazilian contract was a successor to other successful contracts made by Cardia in China, such as one made with Shanghai Pudong Council in order to supply them with Biohybrid waste management merchandise. The source of this information is in website http://www.packagingeurope.com/Packaging-Europe-News/57164/Cardia-Bioplastics-Signs-Supply-Contract-with-Ricoy-Supermercados-in-Brazil.html.