HAWTHORNE, Calif. -- In response to escalating demand for its proprietary bio-based resins, Cereplast, Inc., (OTCBB:CERP - News), announces the expansion of the company's sales and marketing division. The growth of the marketing department follows the continuing expansion of the company's manufacturing capacity.
Michael Muchin has been hired as Vice President Sales and head of the sales and marketing division. Muchin joins Cereplast from Scapa Medical, a global manufacturer of specialty thermoplastic films and adhesive coated products. At Cereplast, Muchin will oversee the Company's large customer base of strategic partners, converters and end users to further promote the sale of Cereplast resins. Muchin will be based at the company's Hawthorne, California, headquarters.
Robert Dobbs joins Cereplast as Vice President of Sales in charge of Product Application. Prior to joining Cereplast, Dobbs was Packaging Project Manager with PERSECO and previously worked as Manager of Package Engineering for YUM Brands (NYSE:YUM - News). Leading this new division, Mr. Dobbs will be the liaison with the broader restaurant industry, including the Quick Service Restaurant sector and will be responsible for expanding the existing network of converters to make products that satisfy the needs of the restaurant industry. He is also tasked with developing a new network of converters to expand Cereplast's range of applications, including applications in personal care, health, hardware, and grocery. Dobbs will be based in Nashville, Tennessee.
Finally, Matthew Penrose, Regional Director of Business Development Foodservice who has been with the company for four years, will continue his successful efforts in developing composting programs across the country and promoting the use of end-products made with Cereplast's bio-based resins. Penrose will continue to work out of Cereplast's New York sales office.
With a new production line nearing completion, the company is currently on track to become the second largest producer of bio-based resins in the country. The new line will bring the company's total production capacity to 40 million pounds of resin per year. Frederic Scheer, the company's CEO, said, "The newly created sales and marketing division will allow Cereplast to effectively respond to the developing and rapidly growing markets for our bio-based resins, while maintaining our leading presence in our current market sectors. I am gratified to have Mike, Robert and Matthew's expertise as we expand the reach of our alternative resins."
About Cereplast, Inc.
Cereplast, Inc. (OTCBB:CERP - News) designs and manufactures proprietary starch-based, renewable plastics. Cereplast has developed a breakthrough technology to produce proprietary bio-based resins which are used as substitutes for petroleum-based plastics offering price stability and competitive costs compared to traditional resins. Cereplast resins can be used in all major converting process such as injection molding, thermoforming, blow molding and extrusions. Made from renewable resources such as corn and potato starch, Cereplast resins are certified biodegradable and compostable by BPI (Biodegradable Products Institute) and have comparable or superior performance characteristics to conventional plastics and return to nature quickly and safely.
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.
