HONG KONG–(BUSINESS WIRE)–Biopack Environmental Solutions Inc. (OTCBB: BPAC), a leading designer, manufacturer, and supplier of 100% biodegradable packaging products, is pleased to provide the following update to its press release dated October 22, 2009 and announce initial sales of a water resistant or “coated” fish tray to one of the largest international food conglomerates in the world. Biopack has designed, tested, manufactured and shipped this new coated fish tray that was custom made upon request to meet packaging needs of the food conglomerate, which operates nearly 3,000 retail stores in the United States and Europe under 11 different brand names generating approximately $40 billion in annual revenue.
Biopack’s eco-friendly, 100% biodegradable and compostable coated fish tray was specifically made to complement an existing product within this retailers Sustainable Seafood Program, a 10-point policy which dictates how seafood is purchased and sold, based on social, ecological and economic considerations. The goals of this retail giant for delivering sustainable seafood into its stores are to:
Promote the sale of seafood that is harvested in a sustainable way;
Avoid the sale of species that have been over-fished or are in jeopardy;
Actively work with the industry, NGOs, and governments to monitor and improve long-term viability of fish stocks.
Many global corporations are placing more emphasis on going green and sustainability. For example Walmart’s Sustainability Index, announced earlier this year, is part of a major attempt by the retail giant to develop a more transparent supply chain. The index will show what is in each product and how the product is made – from raw materials to disposal. Eco-friendly sourcing of product and eco-friendly packaging are becoming more visible in many companies’ business initiatives.
We have spent a lot of resources to develop our coated trays,” commented Mr. Gerald Lau, Chief Executive Officer of Biopack Environmental Solutions Inc. “We are very excited to be finally selling them into the retail market, especially to an international conglomerate that we believe ranks amongst the biggest in the world. This helps not only to validate the demand we believed a more water resistant tray would have in the market, but by being sold to such a large international retailer for such a purpose, confirms our belief that our products are amongst the most eco-friendly available. We hope that this is just the beginning of a long lasting relationship with this retailer, and that it will span multiple product offerings not only for seafood, but across a wide spectrum of products. Certainly, we look forward to the product diversification and many additional market segments that we can penetrate with our new coated trays and other coated packaging products.
Source: Biopack Environmental Solutions Inc.