Mar 3 2011
Casey Container Corp. (OTCBB: CSEY) has secured funding for its manufacturing equipment, including operating capital to be used in establishing its new biodegradable preform facility in the greater Phoenix, Arizona area. The Company anticipates being in full production in the second quarter of this year.
Casey Container has received pre-orders for approximately 38 million preforms. With the initial equipment it is purchasing, the Company will be able to produce the entire series of preorders without increasing first-year capacity at this facility. This enables the Company to take on additional orders while ramping up its revenue stream.
Casey Container licenses 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, thereby offering the same performance and cost effective advantages of conventional plastics.
This production facility is Casey Container's first plant dedicated to producing its biodegradable preforms. The Company will begin operations with several preform production lines, which will be installed and test run prior to reaching full-scale production. The plant will be designed and engineered for anticipated expansion of the Company's production capacity solely by adding production lines. It will also serve as Casey Container's interim corporate headquarters.
Casey Container Corp. is launching its manufacturing facility in response to an increasingly large and growing demand for a viable biodegradable plastic container solution. Industry estimates suggest that 200 billion single use plastic bottles are consumed globally per year representing a market valued at approximately $86 billion. Out of the 30 billion plastic bottles that Americans purchase, about 75% end up in landfills. The majority of those could be replaced with a true and effective biodegradable plastic material. Casey Container is confident its biodegradable preform solution addresses this concern.
Source: http://www.caseycontainer.com/