Cereplast provides an update on its restructuring plan

In Indiana, Cereplast gave an update on restructuring of its global operations, reporting that as of June 1, 2013, it has successfully completed the restructuring by relocating its corporate headquarters from California to its production facility in Indiana, as well as relocating its European headquarters from Germany to its offices in Italy. The closure of the offices in California and Germany is expected to reduce annual operating expenses by $600,000 to $800,000.

Cereplast has added two veteran sales staff, and reports that sales are increasing, with CEO and Chairman Mr. Frederic Sheer stating that he expects revenues for the first half of 2013 will “substantially exceed” those of the first half of 2012.

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