Small intial order Reiner but significant entry point into UK market. Particularly like the Red bold section below.
Cardia Bioplastics Limited (ASX: CNN) is pleased to announce that it partnered with LifeCycle Products to increase sales of compostable and Biohybrid™ bag and waste management products in the UK market.
LifeCycle Products is a UK designer, marketer and distributor of proprietary compostable and lower carbon foot print bag and waste management products. LifeCycle Products and Cardia Bioplastics executed their strategic supply contract. Initial orders of $65,000 for Cardia Compostable products have been placed by LifeCycle Products for its mid-year launch.
LifeCycle Products is also the first in the UK to offer a solution for those customers needing to begin the step change towards bio-based materials. The Company is now introducing products based on Cardia Biohybrid™ technology as an alternative to conventional 100% petro based materials. This is gaining significant interest in the Municipal and TradeWaste sacks market.
The UKmarket presents an excellent opportunity for both Cardia Compostable and Biohybrid™ bag andwaste management products. Some 8.1 billion thin-gauge (single-use) plastic bags were used by UK supermarket customers in 2012, and increase of 1.3% from 2011, according to the latest data from the Waste and Resources Action Programme (WRAP).
CNN Price at posting:
0.3¢ Sentiment: Buy Disclosure: Held
