Cereplast, Inc. (OTCBB: CERP), a manufacturer of bio-based plastics, announced a supply agreement through which Chipotle Restaurants (NYSE: CMG) will begin giving customers plastic cutlery manufactured exclusively using Cereplast Compostables® resin.
The agreement is between Chipotle and supply chain management company HAVI/Perseco (HAVI), which will provide the cutlery.
A system-wide rollout of up to 800 Chipotle locations is expected in the near future, according to a Cereplast release.
Cereplast hopes other restaurants will adopt their bio-based plastics in an effort to comply with emerging environmental legislation.
"The use of bioplastics will play a significant role in promoting compliance with these types of mandates," said Frederic Scheer, Chairman and CEO of Cereplast.
Beginning in July 2010, Seattle will ban plastic utensils and plastic food containers in food-service businesses. Business will have to switch to compostable or recyclable alternatives.
Cereplast, Inc. designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes–such as injection molding, thermoforming, blow molding and extrusions–at a pricing structure that is competitive with petroleum-based plastics.
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