Forterra Environmental Launches New Worm Tea Organic Soil Enrichment Product
09 Junho 2008 - 10:38AM
Marketwired Canada
Forterra Environmental Corp. (TSX VENTURE:FTE), an emerging leader in the
production and sale of premium organic soil enrichment products based on worm
castings, today announced that it is launching the marketing and sales of
Forterra Worm Castings Tea, focusing initially on markets in Ontario.
"We have developed a new system that can deliver Forterra Worm Castings Tea to
users in an aerated container enabling them to realize the maximum benefits when
deploying this soil enrichment product as a spray or soil drench," said Richard
Denyes, President and Chief Operating Officer. "We expect this will make the
worm castings tea product attractive to landscapers, golf courses, householders,
and other users seeking entirely organic fertilizer solutions.
"The launching of this product in Ontario is particularly timely both because we
are entering the peak season for the use of fertilizers and because of the
pesticide ban that the province and municipalities are enforcing. We are working
with commercial customers to show them how they can effectively apply the worm
castings tea product and also expect to announce within weeks contracts with
selected companies to sell this product in Ontario," Mr. Denyes added.
"We are establishing commercial and retail pricing for Forterra Worm Castings
Tea that we believe will prove attractive to contractors, other commercial
users, and householders," said Don Green, the company's Chairman and Chief
Executive Officer.
"While price competitive, Forterra Worm Castings Tea also will yield an
attractive profit margin for our company, significantly higher than we realize
from our solid soil enrichment Worm Castings product. Current pricing models
will give us a revenue of $96.00 a pound, which is much higher than the $0.55
-0.60 per pound currently for worm castings," Mr. Green said.
Scientific studies have confirmed that worm castings contain beneficial soil
microorganisms. When brewed in highly oxygenated water, the soluble
micronutrients and beneficial organic compounds are extracted, producing the
worm castings tea. The tea must be used within three days of production for
maximum effectiveness. Benefits and uses of worm castings tea include:
- yield increases, resistance to diseases and insect pests, improved drought
tolerance, and enhanced crop quality;
- for setting blossoms, blooms or development of fruit and vegetables;
- quick recovery from lack of moisture, damage from wind, and poor foliage color;
- enrichment of soil structure (when used as a drench) and increased nutrient
source when roots cannot provide enough nutrients for maximum yields;
- better use of water and soil to deliver needed nutrients and nourishment to
plants throughout their life cycle;
- absolutely no toxins, pesticides or synthetic chemicals to harm plants or
contaminate the water supply or environment in any way;
- safe around children, animals, and homes; and
- virtually odorless.
Forterra recently announced that its Toronto (Downsview) production plant has
achieved an approximately 250 percent increase in its production rate from the
level of two months ago. By the end of June, the company expects to be producing
more than 25 tons of worm castings per week. In July, it plans to double this
100-tons-per-month output and expect to increase it again in August to 400 tons,
then 800 tons in September, and so on.
The success that Forterra now is achieving with its breeding program for the red
wiggler worms that produce the worm castings for its products provides the
company with the ability to increase its production levels virtually
exponentially. Forterra believes that it now is positioned as leader in the
rapidly growing market for organic soil enhancement products.
About Forterra Environmental Corp.
Forterra manufactures and markets powerful and 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. Forterra produces commercial
quantities of premium worm castings year round at its Toronto plant.
Essentially, Forterra uses red wriggler worms to convert organic waste 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, 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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