Cereplast sees delay in implementing Italian bioplastic bag Legislation
In Indiana, Cereplast reports in a shareholder update that the government of the United Kingdom is using the European Union legal system in an attempt to influence the Italian legislation that enforces sanctions on merchants that do not discontinue the use of traditional single-use plastic bags in favor of bioplastic and other alternatives. Cereplast anticipates that this move will simply delay the law from going into full effect until Summer/Fall 2013.
Cereplast Chairman and CEO Mr. Frederic Scheer commented, “When dealing with government bodies and new legislation there are often times hurdles that occur, particularly when there is lobbying pressure from the traditional plastics industry.” Scheer further noted that he is not concerned about this development, and that in the end it will only serve to pause full implementation of the Italian legislation.
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