Cereplast, maker of proprietary bio-based, sustainable bioplastics, has issued an update on the plastic bag legislation in France and the opportunity it may provide for the company.
The proposed legislation is for a tax on conventional single-use plastic bags as a general tax on polluting activities. The tax rate initially would be 10 euros per kilogram, or approximately $0.08 U.S. per bag, increasing each year in proportion to the growth of consumer prices.
The tax would be enforced beginning January 1, 2014, to anyone who delivers these items to the domestic market or uses these bags for the first time. The exception is to biodegradable bioplastic bags that are comprised of at least 40 percent bio-based material.
Cereplast anticipates that the legislation has the potential to create annual revenue for the bioplastic industry similar to that of the Italian Decree.
“Similar to the opportunities in Italy, this French legislation would create vast opportunities for the bioplastics industry as well as for the company,” Cereplast chairman and CEO Frederic Scheer stated in the news release. “Cereplast has already been working with several customers in France in preparation for this moment, and we expect an increase in revenue from our French customers in 2014.”
For more information, visit www.cereplast.com
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