IHS Chemical Week

Markets :: Fine Chemicals/Biotech :: Industrial Biotech

Cereplast announces restructuring

9:17 AM MDT | May 7, 2013 | Rebecca Coons

Biobased plastics firm Cereplast (El Segundo, CA) says it will relocate its corporate headquarters to Seymour, IN, to save costs and move its European headquarters to Milan in order to focus its efforts on the most dynamic bioplastics markets in Europe. The company says both its El Segundo and Bonen, Germany, offices will close this month. The restructuring is expected to yield annual cost savings of  $600,000–800,000. "We continue to be optimistic about the revenue potential for the remainder of 2013, which will be derived primarily from...

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