Casey Container Corp. (OTCBB: CSEY) is in receipt of a new purchase order from a U.S.-based bottled water company providing for Casey to supply about 225,000 biodegradable preforms on a weekly basis over a year period, for use in the manufacture of biodegradable plastic bottles.
This is the second order received by Casey Container from a bottled water company for its biodegradable plastic bottle solution.
Casey Container holds a license to EcoPure®, a revolutionary second-generation proprietary and organic additive, which -- once added to a resin used to produce plastic bottle preforms -- renders the plastic biodegradable. The Company's biodegradable preforms are made of PET, HDPE and other conventional polymers, thus offering the same performance and cost effective advantages of conventional plastics. By introducing EcoPure® into the manufacturing process, Casey expects to produce a truly biodegradable PET, HDPE and other polymer products that break down into harmless bio-gases and bio-mass over time in anaerobic environments like landfills.
This order, along with its previous announced preform order also from a bottled water company, set Casey Container on a path to begin producing 450,000 preforms weekly. The combined orders represent over $2 million in revenue to the Company over their first one-year term, based on current pricing for the preforms.
Terry Neild, Chairman of Casey Container, states, "We continue to receive orders for our biodegradable preforms that will allow us to begin realizing immediate revenue from our new preform and bottling manufacturing facility upon becoming operational in 2011. We are especially encouraged by the demand from water bottlers who have jumped at the opportunity to use a biodegradable plastic bottle with all the advantages of conventional plastics, but that provides a solid environmental solution. We are on track to deliver over 23 million preforms and bottles in 2011 from current orders with an initial capacity of about 100 million in 2011, given that we meet our anticipated production ramp-up schedule."