Cereplast shares jump after CEO discusses revenue growth, possible takeover

Shares of Cereplast Inc spiked as much as 9 percent after Reuters reported on Dec 2 that the bioplastics makers plans to grow revenue to $100 million from a forecast $8 million this year. Chief Executive Frederic Scheer also spoke exclusively to Reuters about the potential for the company he founded nine years ago to one day become an acquisition target. Buyers would include large chemical makers such as Dow Chemical or DuPont, he said. The Reuters story explored Cereplasts unique technology that converts plant products, including tapioca, into common plastics, as well as Cereplast`s plans to expand into Europe.