At Cereplast, they're already rubbing their hands together in anticipation, as Europe's battle of the bag continues. The front recently moved to Bulgaria, where Parliament has approved a law that places an aggressive eco tax on plastic bags in an effort to drastically reduce the number of traditional plastic shopping bags used each.
Today, Bulgarians use an estimated 1.2 billion plastic bags annually. In addition to helping control environmental pollution created by the traditional production of plastic bags, this tax creates a large new market for bioplastic alternatives.
Chairman and CEO of Cereplast, Frederic Scheer, is quoted as saying: "Bulgaria is the next opportunity for bioplastics and for Cereplast. We are well-poised to take advantage of this new demand for our bioplastic resin."
Bulgaria's eco tax on plastic bags is progressive, with high increases scheduled over the next few years...