Cereplast expands bioplastic capacity in Italy

In Italy, Cereplast has completed the purchase of a manufacturing plant in Assisi, that will serve as the hub for the company’s European bioplastics production. This initiative enables Cereplast to further expand its capabilities to produce and deliver bioplastic products to the European marketplace.

Italian bank Monte De Paschi di Sienna is providing funding that will cover the majority of the costs associated with the purchase and refurbishment of the facility. IntesaSanPaolo Bank participated as well in opening credit facilities totaling over one million euros to Cereplast Italia SpA with the support of Eurofidi. The remainder of the project will be subsidized with loans and grants from local government agencies.