CERP REVERSAL GAZELLE RADARZZZ/Cereplast Provides
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CERP >>REVERSAL GAZELLE RADARZZZ/Cereplast Provides an Update on Its Restructuring Plan
SEYMOUR, Ind., June 25, 2013 (GLOBE NEWSWIRE) -- Cereplast, Inc. (CERP) (the "Company"), a leading manufacturer of proprietary biobased, compostable and sustainable bioplastics, today announced an update on the restructuring of its global operations.
As of June 1, 2013, the Company has successfully completed the restructuring by relocating its corporate headquarters from California to its production facility in Indiana, as well as relocating its European headquarters from Germany to its offices in Italy. The closure of the offices in California and Germany is expected to reduce annual operating expenses by $600,000 to $800,000.
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