Solegear & Columbia Plastics to Launch Six Sustainable Bioplastic Office ProductsTuesday, July 21, 2015
Strategic Partnership Launches Product Innovation to Capture Share of $100 Million Dollar Canadian Office Accessory Market
Vancouver, BC, July 21, 2015--(T-Net)--Solegear Bioplastic Technologies Inc., (TSX VENTURE:SGB) in partnership with Columbia Plastics Ltd., a leading Canadian plastic injection molding company, have completed a commercial agreement with TOPS Products Canada to convert six of their Starmark® branded desk organizer and accessory products to Solegear's plant-based materials.
Revenue associated with these initial six products is estimated to be between $50,000 and $150,000 annually, with additional channel customers and new products to be added after launch in late 2015.
"We're very excited to be taking the next step with Columbia Plastics to convert the TOPS Products Canada Starmark® brand to Solegear's Polysole® LV bioplastic injection molding grade," said Paul Antoniadis, CEO of Solegear. "The desk organizer and office accessory market in Canada is valued at an estimated $100 million dollars and as businesses seek out new ways to decrease their carbon footprint and fulfill customer expectations when it comes to corporate social responsibility, Solegear's products are positioned to meet those needs and surpass expectations."
The six Starmark® desk organizing and accessory products to be launched include the Clip-Mate™, Memo-Mate™, File-Mate™, Pencil-Mate™, Self-Stacker and Desk Tray. TOPS Products Canada will be launching these six initial products or SKUs for its commercial channel customers, which include Canadian office retailers such as Staples, Staples Advantage, Office Depot, Office Pro and Office Plus, Basic Office Products and BuroPlus. These products will be available in late 2015.
Solegear's Polysole® LV bioplastic injection molding grade includes a suite of bioplastic resins that can be processed on conventional injection molding equipment. With plant-based content ranging from 65% to 100%, Polysole® LV is designed to replace petroleum-based Polypropylene, High Impact Polystyrene and ABS plastics while maintaining performance and the highest possible levels of annually renewable material.
About Solegear Bioplastics Inc.
Solegear, based in Vancouver, British Columbia, is an innovator in the field of next-generation plastics. The Company is an advanced materials firm that engineers, produces and distributes high-performance bioplastics (bioplastics are a category of plastics that are bio-based, compostable, or both) through a capital efficient business model. Founded in 2006, Solegear has developed, and is commercializing proprietary bioplastics technologies that utilize annually renewable plant-based ingredients formulated using green chemistry, to address the growing North American market opportunity for rigid consumer packaging and durable plastic goods. www.solegear.ca
About Columbia Plastics Ltd.
Columbia Plastics, based in Surrey, British Columbia, is a custom injection molder that has been in business since 1945. The company provides high performance manufacturing solutions for a variety of industries and markets. Services provided in addition to molding include design, tooling, assembly, decorating, and packaging. All processes are ISO certified to either the 9001:2008 or 13485:2003 standards.www.columbiaplastics.com
About TOPS Products Canada
TOPS Products Canada, a division of RR Donnelly®, is a leading manufacturer of office supplies available through leading independent dealers, wholesalers, contract stationers, and retailers across North America. Its product range includes: filing and organization products, binders, note taking, index cards, forms and envelopes. www.tops-products.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Information in this news release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws.
Implicit in this information, particularly in respect of future operating results and economic performance of the Company are assumptions regarding the expected revenues to be generated from the commercial agreement with TOPS Products Canada. These assumptions, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a number of risks and uncertainties, including risks relating to general economic, market and business conditions and could differ materially from what is currently expected as set out above.
Other than as required under securities laws, we do not undertake to update this information at any particular time.
Forward-looking information contained in this news release is based on our current estimates, expectations and projections, which we believe are reasonable as of the current date. The reader should not place undue importance on forward-looking information and should not rely upon this information as of any other date. All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
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