A lot of press releases from bioplastic company Cereplast came out the past two weeks and since I've been planning to write an article about them for ICIS Chemical Business' February 8 issue, I might as well post a shorter version of my interview with the company today.
I had the pleasure to interview Cereplast's CEO Frederic Scheer late December and got great information about the company's plans for 2010. Two articles were already written for ICIS news last week although they're for subscribers only.
US bioplastics firm Cereplast to move ops to Indiana-04/01/2010-ICIS News
Cereplast to expand European bioplastics distribution-04/01/2010-ICIS News
But here's a brief snapshots of my interview as a sneak peek for my February 8 article:
Q: How did the business fared in 2009?
Scheer: Last year was a very challenging year for us because we are in an industry that is still at its infancy. Bioplastic resins are generally more expensive to traditional resins so when the entire economy is shrinking, the environment is not the top priority anymore as everybody is thinking about survival. We are expecting 2009 revenue to be around $3-$4m. The restructuring program that we started last year, however, is helping us not only to survive but to do things that are critical for our business. We shaved a lot of costs and we were able to successfully raised money three times, in early January, in July and in December last year.
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