SCOTTSDALE, Ariz., Dec. 29, 2010 /PRNewswirel-FirstCall/ -- Casey Container Corp. (OTC Bulletin Board: CSEY) today announced that senior management is focusing on the manufacturing of its preforms which are used to produce biodegradable plastic bottles and containers. This decision comes as the Company has received purchase orders and numerous inquiries for its biodegradable plastic solution for bottled water and other consumer product containers that use traditional plastic materials.
In light of this focus, the Company has terminated acquisition negotiations with Mountain Green of Arizona, LLC and will deploy its resources exclusively to meet immediate and escalating demand for biodegradable preforms and bottling products produced using EcoPure®, a revolutionary second-generation proprietary and organic additive licensed to Casey, which when combined with resin used to produce plastic bottles and containers, renders the plastic biodegradable.
Over the past several weeks, Casey Container announced receiving purchase orders for its biodegradable plastic preforms from three bottled water companies. These orders include one international and two domestic companies, providing for weekly delivery of approximately 750,000 biodegradable plastic preforms, or nearly 40 million preforms over the first 12 months once production commences in early 2011.
Martin Nason, President and CEO of Casey Container, stated, "Strategically, Casey needs to accelerate and concentrate its efforts and resources on its production launch so we can begin shipping biodegradable plastic preforms to our customers, and pursue the numerous inquiries we've received from other bottled water and consumer products companies." Continuing, Nason noted, "Casey has had meaningful discussions with plastic bottle manufacturers centered on joint supply arrangements. These events have led to an execution strategy which will permit us to optimize our time, effort and resources to establish Casey Container as the preferred source for custom biodegradable preforms and bottling products."
According to the Container Recycling Institute, Americans alone consume more than 90 million single use (liter size or smaller) bottled water each day, of which approximately 70 million end up in landfills and incinerators and are not biodegradable.
About Casey Container Corp.
Headquartered in Scottsdale, Arizona, Casey Container is engaged in the design and custom manufacture of biodegradable PET, HDPE and other plastic polymer preforms and containers for use in the bottled water, beverage and consumer products industries. The Company is committed to developing container products that meet clients' demands while addressing society's most fundamental environmental issues concerning proliferation of plastic pollution. The Company offers its biodegradable plastic packaging solutions using the breakthrough science and additive of the EcoPure® technology. For more information on Casey Container, please visit the Company's web site found at www.caseycontainer.com. You can also follow the Company on Twitter @casey_container or become a fan on Facebook at Casey Container Corp.
Safe Harbor for Forward Looking Statements
Except for historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices as well as other factors addressed in the Company's filings with the Securities and Exchange Commission. For all such forward-looking statements, we claim the safe harbor for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company disclaims any obligation to update any forward-looking statement made herein.
SOURCE Casey Container Corp.