SOURCE: AXcess News

AXcess News

December 09, 2010 11:10 ET

AXcess News: Biodegradable Bottle Maker Goes International

HOUSTON, TX--(Marketwire - December 9, 2010) - Casey Container Corp. (OTCBB: CSEY) has been on a fast track growth development ever since the Arizona-based company began accepting orders for biodegradable plastic bottle preform manufacturing. Now it appears the company is going international, having announced its first offshore contract on Wednesday.

The Company revealed that a third bottled water company, based in Grenada, has ordered 300,000 preformed PET biodegradable plastic bottles per week. The contract is for one-year.

CSEY noted in the release that it has received three orders in the past two weeks which are valued at $3.2 million in revenue. The combined orders equal 33 million biodegradable PET plastic bottles per year, or one-third the initial manufacturing line's capacity.

AXcess News featured Casey Container on Monday, November 29 2010 after the company unveiled its first order for preformed plastic bottles within the $9.9 billion U.S. plastic bottle manufacturing sector when it became the first bottle-maker to offer a biodegradable PET plastic resin preform.

PET plastic resin is used in the manufacture of food and beverage plastic preformed packaging and is the largest segment of the U.S. plastic packaging industry. Most buyers of mid to small-sized orders can wait up to a year or more to get orders filled, due to the larger buyers taking up manufacturing capacity at existing plants, which gives Casey Container a distinct advantage in the marketplace. While small-run fulfillment is advantageous, the fact that CSEY is the first PET plastic preform packaging manufacturer to offer a biodegradable plastic bottle that is both safe and reliable in shelf life makes the container-maker a strong candidate for dramatic growth.

Demand for green products is the real sweet spot for the Company as environmental pressures on manufacturers and grocers alike has placed companies on notice to come up packaging that degrades over time in landfills. According to buyers, Casey Container's competitors are two years away from coming with a biodegradable PET plastic preform that can fulfill green market demand and as CSEY grows closer to line capacity duplication of the manufacturing line can be achieved in a few months for relatively low cost. That may be why CSEY is projecting growth of $40 million, though as orders appear to be coming in at a rapid pace that estimate may be on the low side.

Terry Neild, Chairman of Casey Container, was quoted in Wednesday's release as saying, "Based on prevailing legislation and environmental mandates, many [buyers] are anxious to source plastic preforms from us."

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