Trellis to own assets of liquidated Cereplast now by paying 2.6 million US dollars

Development in the bioplastics industry is taking place rapidly as various companies and research institutes are committed for investment and technology in this direction. Leading companies and research groups are engaged in development of biodegradable materials that are efficient to reduce the pollution level in environment. One of the leading bio-based product developer, Trellis Earth products, and the US based group is working hard to develop up to 50 percent of its product in the country after paying about 2.6 million US dollars for the assets of Cereplast, the bankrupted bioplastics material developer. Trellis has now a Cereplast plant and three contract developers in China. The company expects fastening the rate of growth with the Cereplast plant as it has a capacity of producing products that worth up to 50 million US dollars. With the help of this plant, the company will be able to fasten its injection molding and thermoforming operations in US.

Read more about the matter here at - http://www.plasticsandrubberasia.com/aug2014/materials2.html

The company has gained good reputation in the world of food packaging industry and bio-plastics development till now. Offering the whole range of eco friendly cutlery, shopping bags, food containers, it expects to elaborate its sales up to US$8.5 million in 2015.
Trellis is a seven-year old company with over 500 customers in the food service industry and provides bio-based cutlery, food containers, and shopping bags. It expects to post sales of US$8.5 million in 2015.

Trellis Earth Products now owns Cereplast too

Trellis, one of the world class bioplastic’s disposable manufacturers declared to purchase assets of Cereplast along with patents, inventory, equipments, trademarks for which Trellis will pay $2.6 million. According to Trellis, acquiring assets of Cereplast will promote growth of the company so that it will soon secure an exciting position in the list of American suppliers of bioplastic disposables.

As Trellis has already its reputed name in the market with support of over 500 customers from the food industry, it needs not to impart any additional efforts for catching attention of leading names from the industry. Some of the leading clients of Trellis to whom it supplies food containers, bioplastic cutlery and shopping bags are Kroger, Wegmans and Trader Joe’s. Moreover, the company is planning to manufacture about 50 percent of its products itself within 6 months and rest 50 percent within a year. Read more about this deal here at - http://greenchemicalsblog.com/2014/06/22/trellis-earth-products-buys-cereplast/

The company has decided to target 8.5 million dollars in revenue for 2015 on the basis of ultimate forecasting demand from the US client community. Cereplast currently bears production efficiency of about 50 million dollars. It acquires about 105,000 sq ft. premise to meet this manufacturing facility. The NY city based Axiom Capital Management Inc. presents the company and works as independent placement agent.