- First shipment made of 22 tons of castings
- Customer initially listing three products featuring Forterra's worm
- Longer-term arrangement subject to success of initial products
PUSLINCH, ON, Oct. 1 /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 shipped 22 tons of worm castings to a national supplier. The customer initially will be listing three products using Forterra's worm castings for sales to the professional market across Canada.
"The development of this relationship follows months of product development and continued testing by our new customer of our worm castings and of blends of their products with ours," said Rick Denyes, Forterra's president and chief operating officer.
"We have shipped our first truck load of about 22 tons of worm castings to them. Future orders will depend on the sales success of its products using Forterra's worm castings. We have discussed a longer-term arrangement and this will depend on the market success of the products that are being sold with our worm castings," he continued.
"We believe that this is a big step forward for Forterra. We are tremendously excited that this national supplier is recognizing our product and that together we can offer its customers exceptional solutions for their nutrient needs," Mr. Denyes added.
"We also are still expecting to be able to announce our first purchase order from the new customer that the company cited in its August 31, 2009 news release announcing second-quarter financial results, from which Forterra expects initial orders for the balance of the year for between $375,000 and $500,000 in the near future," 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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