- Agriculture Technology Incorporated will blend Forterra's worm
castings into its Eco-Soil products for sales through retail outlets
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.
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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SOURCE FORTERRA ENVIRONMENTAL CORP.
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