Mining didn’t pan out, but a packaging processor emergesMining didn’t pan out, but a packaging processor emerges
A company whose fortunes as a developer of natural resource properties in Canada didn't pan out has been transformed, with a new name, new management, and a new mission to process biodegradable preforms and maybe more.
February 19, 2010
Casey Container Corp. is the new name for the former Sawadee Ventures Inc., which had been an unsuccessful venture to explore for gold, silver, and copper properties. Last month Sawadee's last employee, Rachna Khanna, resigned. The company was formed in 2006 but its mining venture failed, and in 2008 it had transitioned to a "development stage company," essentially a shell company with no employees, no material assets, no revenue, in search of a company with which to merge or acquire.
Taking over as directors of the renamed company are James Casey, Terry Neild, and Robert Seaman, with Casey serving as president, Neild as CEO, CFO and secretary, and Seaman as VP operations. Casey's background includes time at the U.S. Industrial Chemical Co., now part of Quantum Chemical Corp. Neild was previously president and CEO of Clearly Canadian Beverage Corp. and Jolt Beverages Corp. Seaman, according to a release provided by the company, has "installed, tested, repaired and run bottling equipment in 136 foreign countries and in all 50 states for everything from jelly to sun tan lotion and brake fluid to bottled water."
Casey Container intends to open its first processing facility, for PET preforms, near Tampa, FL. The company's calling card will be that its preforms biodegrade, as the processor has acquired a non-exclusive license to incorporate EcoPure biodegradable additive into the preforms and, eventually, also bottles it will supply to the food, beverage, and pharma packaging industries. EcoPure additive, when added to standard thermoplastics, causes these to biodegrade in both compost and landfill environments, where the thermoplastic is consumed by microbial activity in two to five years. For more of our coverage of EcoPure, which is supplied by Bio-Tec Environmental (Albuquerque, NM), refer to our recent article covering the additive's costs and potential uses.
For now, though, Casey Container owns no equipment and has no employees beyond the three directors, according to its most recent 8-K filing with the U.S. Securities & Exchange Commission; the company trades over-the-counter in the U.S., a legacy of Sawadee's public trading status. However, the processor's future also is defined in the 8-K, which states Casey Container is to mold biodegradable PET preforms for Taste of Aruba, an affiliate of Casey Container, with the also-embryonic water bottler to blowmold and fill its bottles at its bottling plant in Aruba, Dutch Carribean, with plans for global distribution. Taste of Aruba's mailing address is in a residential neighborhood in Scottsdale, AZ, at the same address as Casey Container.
The owners have big growth plans for the water bottler, as shown in the supply projections they provided to Bio-Tec. The goal is for Aruba's output to grow from bottling of 20,000 cases (each case containing 24 500-ml bottles) this quarter to more than one million such cases by this time in 2012.
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