Bioplastics manufacturing plant

On May 2, Cereplast (El Segundo, CA - USA), a leading manufacturer of compostable and sustainable plastics, announced it will establish a 100,000 tons/year bioplastics manufacturing plant in Assisi – Umbria (Italy), bringing 85% of its business in Europe. The eventual 100,000 tons of capacity will be built out in several phases, with 50,000 tons of initial production expected to start up in late-2012. The second 50,000-ton phase is planned to begin on mid-2013, based on market demand.
The plant will be built developed on the site of an existing industrial plant and covers about 11,600 sqm2.
The plant will be owned and run by Cereplast Italia spa, a wholly owned subsidiary of Cereplast Inc. This venture will be financed through local and regional financing with Italian institutions and is expected to receive subsidies from various state and local agencies. The initial investment is estimated to be about €10 million to €12 million, with around 150 jobs created.