Bioplastics products maker Trellis Earth Products Inc. has acquired the assets of bankrupt bioplastic materials firm Cereplast Inc. for $2.6 million.<\/p>\n
The deal includes a 105,000-square-foot production plant in Seymour, Ind., as well as production equipment, patents, inventory and trademarks. Wilsonville, Ore.-based Trellis also will pay some costs related to Cereplast\u2019s Chapter 7 liquidation proceedings.<\/p>\n
\u201cWe have long wanted to mark our products as \u2018Made in the U.S.A.,\u201d Trellis CEO Mike Senzaki said in a June 20 news release. \u201cThe acquisition of this factory will enable us to quickly become the pre-eminent American supplier of bioplastic food service compostables.\u201d<\/p>\n
Trellis was formed in 2007 and provides bio-based cutlery, food containers and shopping bags to more than 500 customers, including the Kroger\u2019s, Wegman\u2019s and Trader Joe\u2019s grocery store chains. The firm expects to post annual sales of $8.5 million in 2015.<\/p>\n
In July 2013, Trellis relocated production from China to a former Eastman Kodak plant in Gates, N.Y. Officials said the move was made because of rising costs in China.<\/p>\n
Cereplast had long been a visible proponent of the bioplastics market, but the firm struggled to find commercial success. It filed for bankruptcy in February after reporting a loss of $34 million for the first nine months of 2013. Cereplast\u2019s annual sales were around $1 million.<\/p>\n
Cereplast was founded in California and operated there for several years before relocating to Seymour in 2013. The firm\u2019s products include bioplastics based on vegetable matter, as well as a new product based on algae biomass.<\/p>\n","protected":false},"excerpt":{"rendered":"
Trellis Earth Products, Inc., a leading maker of bioplastic food service disposables, will pay $2.6 …<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[],"supplier":[428,2804],"class_list":["post-21113","post","type-post","status-publish","format-standard","hentry","category-bio-based","supplier-cereplast-inc","supplier-trellis-earth-products-inc"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/21113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=21113"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/21113\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=21113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=21113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=21113"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=21113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}