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Bullboard - Stock Discussion Forum
Forterra Environmental Corp
FEVCF
Agriculture
Agricultural Inputs
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GREY:FEVCF - Post Discussion
Forterra Environmental Corp
> NEWS!!!
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zurock
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Post by
zurock
on Oct 26, 2009 4:46pm
NEWS!!!
Forterra Environmental Receives Order from ATI for Purchase of 250 Tons of Castings Through End of 2009
- Agriculture Technology Incorporated will blend Forterra's worm
castings into its Eco-Soil products for sales through retail outlets
across Canada.
PUSLINCH, ON, Oct. 26 /CNW/ - Forterra Environmental Corp. (TSXV: FTE), a
manufacturer, marketer, and seller of premium organic soil-enrichment products
based on worm castings, today announced that it has received a purchase order
from Agriculture Technology Incorporated (ATI) under which Forterra will ship
approximately 250 tons of worm castings to ATI from now through the end of
2009.
"After reviewing the agronomic benefits of your worm casting products, we
feel that blending Forterra worm castings into our Eco-Soil product line-up
will distinguish our products from those of our competitors," Mathew
Posthumus, General Manager of ATI told Forterra.
"We are positioning our Eco-Soil products as being premium,
nutrient-rich, environmentally friendly compost material for landscaping,
gardening, lawn care, and green houses. We expect that the inclusion of
Forterra's worm castings will enhance the Eco-Soil line-up of products. We
look forward to working with Forterra this year and in the future on branding
and further product research," Mr. Posthumus continued.
ATI has informed Forterra that it already has standing orders for a total
of 500,000 bags of its Eco-Soil (www.ecosoils.ca) products from national and
regional distributors for both independently owned and big box garden centers.
Based on the blending mix, ATI has estimated it will require approximately 250
tons of worm castings to fulfill these orders.
Agriculture Technology Incorporated (www.aticanada.ca), headquartered in
Ruthven, Ontario, was founded by Steve Posthumus and his family in 1995 and
has grown to become the largest greenhouse service company in North America.
Its services include vine, growth media, and ground plastic and drip line
removal; vine, growth media, and plastic recycling; and trucking of organic
waste. ATI uses the recycled organic waste and Rockwool collected from the
greenhouse operations to produce its Eco-Soil line of nutrient products.
Eco-Soil products can be used in seed starting mixes, bedding plants,
planters, soil mixes, gardens, container plants, and anywhere that peat moss
could be used. The properties of Eco-Soil products make them resistant to
bacterial and fungal growth.
"We are very excited about partnering with Agriculture Technology
Incorporated, particularly as through the Eco-Soil product line it gives
Forterra access to four of the largest retailers of garden and agriculture
supplies in Canada," said Rick Denyes, president and chief operating officer.
"This is the order that we indicated in our August 31, 2009 news release
announcing our second-quarter financial results that we had expected would
amount to $375,000 to $500,000. As it took longer than expected to complete
the discussions for the order, the amount to be shipped in 2009 will generate
$150,000 in sales for this year. We are very pleased to have added ATI to our
growing list of customers and believe this is the beginning of a longer-term
relationship that will result in increasing sales in 2010. We will continue
working with ATI on branding and product development toward achieving the
successful launch of the Eco-Soil products with Forterra's worm castings
blended in them. Our companies intend to build on this launch to grow our
sales further in 2010," Mr. Denyes said.
About Forterra Environmental Corp.
Forterra manufactures, markets, and sells environmentally friendly soil
enhancers, using worm castings, which boost fertility while restoring the soil
with organic matter for sustainable, longer-term benefits, including stronger
root growth, and drought and pest resistance. Forterra products contain only
organic material. They are ideal for golf courses, sports fields, lawn care,
parks, nurseries, orchards, and vineyards. Essentially, Forterra uses red
wriggler worms to convert organic material into vermicompost or worm castings.
Worm castings contain micronutrients, which are required for healthy plant
development. Worm castings also contain microbes, which increase the rate at
which plants take up available macronutrients and micronutrients. Further
information is available on the company's website at
www.forterra.com
.
Forward-Looking Statements
This news release contains forward-looking statements based on current
expectations. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from those
reflected in these forward-looking statements. Such statements are based on
current expectations, are subject to a number of uncertainties and risks, and
actual results may differ materially from those contained in such statements.
These uncertainties and risks include, but are not limited to, availability of
resources, competitive pressures, changes in market activity, the ability to
sign contracts with customers, the development of markets for worm castings,
its ability to breed and maintain a sufficiently large worm population, and
regulatory requirements. Risks and uncertainties about Forterra's business are
more fully discussed in the company's disclosure materials, including its
annual information form and MD&A, filed with the securities regulatory
authorities in Canada. Forterra assumes no obligation to update any
forward-looking statement or to update the reasons why actual results could
differ from such statements.
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zurock
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Comment by
zurock
on Oct 27, 2009 8:45am
i cant beleive theres idiots out there still selling at 3 cents HAHAHAHAHA time to fill up your orders with cheap shares boys
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