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SOURCE: Converted Organics Inc.
Last update: 9:20 a.m. EST Nov. 6, 2008
via MarketWatch
"Converted Organics' partnership with Gro Group will be instrumental in satisfying the nationwide
consumer demand for our organic fertilizer products for the spring 2009 growing
season," said Richard P. Aleo, Executive Vice
President of Sales and Marketing for Converted Organics. "Our relationship
with Gro Group Distributors provides Converted
Organics with access to an important group of independent retailers and their
extensive customer base."
"Gro Group believes it is
critical to meet our customers' increasing demands for quality organic
fertilizer products, and we are confident that Converted Organics' all-natural
granular fertilizers are the ideal option to offer homeowners for lawn and
garden use," said Robert Siegel, Vice President of Merchandising for Gro Group, Inc. "We are pleased that our relationship
with Converted Organics will enable us to satisfy this clearly-demonstrated
need."
Independent garden center owners recently viewed Converted
Organics' products for the first time at Gro Group
Regional Distributor trade shows held all over the country. The reaction to the
new line was overwhelmingly positive.
"There is no doubt in my mind that Converted Organics'
fertilizers will be well-received by our garden center customers and consumers
alike. In addition to providing high-quality organic fertilizer, Converted
Organics has created phenomenal product packaging that plays to the interests
of both groups," said John Bruntzel, Sales
Manager of Gard'n-Wise(R) Distributors, Inc., a Gro Group Distributor located in
"Another reason that Converted Organics' products will
be a homerun with retailers in the mid-west is because the idea of 'going
green' has exploded here over the past year, and the garden centers I have
spoken to love the idea of organic fertilizer being made from recycled food
waste."
Purchase orders for Converted Organics' granular fertilizer
products were written by individual garden centers, nurseries and specialty
store representatives at the Regional Distributor shows over the last two
months. The products will be shipped by Gro Group
Distributors after the New Year, for the traditional early spring delivery of
fertilizer. A store-finder application will be posted soon on www.convertedorganics.com
that will display the nearest retail locations to anyone interested in
purchasing Converted Organics' products. Customers will simply enter their zip
code, and the closest retail location carrying Converted Organics' products will
be listed, along with directions to the store.
About Gro Group
Inc.
Incorporated in 1974, Gro Group
Inc. is a North American marketing group, equally owned by Gro
Group Distributors, bringing together leading manufacturers, distributors, and
retailers in the lawn and garden industry. Gro Group
provides information exchange, group purchasing, the Growise
Center Program, and the GroSource Plus
Program offering leading, independent, regional retailers integrated marketing
and merchandising opportunities. For more information about Gro
Group Inc., and to view the easily downloadable Gro
Group Advantage PowerPoint Presentation, please visit www.grogroup.com.
About Converted Organics Inc.
Converted Organics, based in
Converted Organics' fertilizer products will be produced in both a dry pellet and liquid concentrate.
Converted Organics' products have been tested in numerous
field trials for more than a dozen crops with the result that, on average, the
net value of the farmer's crop increased 11-16%, depending on the particular crop and product application. This is due, in part, to the
disease suppression characteristics of the product, which reduce or eliminate
the need for other costly, often toxic, crop protection applications. Increased
use of nitrogen in commercial agriculture and turf grass applications, such as
golf courses, has reduced the soil's ability to absorb nitrogen and other
nutrients. Using the products produced by Converted Organics helps restore the
soil by replenishing these micronutrients. This reduces the amount of nitrogen
required in a virtuous cycle that benefits from long-term use. As a result, use
of the product will reduce chemical run-off to streams, ponds and rivers, an
objective with significant long-term benefits to the environment.
The products have a long shelf life compared to many other
organic fertilizers. In a number of lab and field trials, the liquid product
has been shown to be effective in mitigating powdery mildew, a leaf fungus that
affects most plants and grasses and restricts the flow of water and nutrients
to the plant. The Company's fertilizer products can be used on a stand-alone
basis or in combination with more traditional fertilizers and crop protection
products. Converted Organics expects to benefit from increased regulatory focus
on organic waste processing and on environmentally-friendly growing practices.
This press release contains forward-looking statements that
are subject to risks and uncertainties. These forward-looking statements
include information about possible or assumed future results of our business,
financial condition, liquidity, results of operations,
plans and objectives. In some cases, you may identify forward-looking
statements by words such as "may," "should,"
"plan," "intend," "potential," "continue,"
"believe," "expect," "predict,"
"anticipate" and "estimate," the negative of these words or
other comparable words. These statements are only predictions. One should not
place undue reliance on these forward-looking statements. The forward-looking
statements are qualified by their terms and/or important factors, many of which
are outside the Company's control, involve a number of risks, uncertainties and
other factors that could cause actual results and events to differ materially
from the statements made. The forward-looking statements are based on the
Company's beliefs, assumptions and expectations of our future performance,
taking into account information currently available to the Company. These
beliefs, assumptions and expectations can change as a result of many possible
events or factors, including those events and factors described in "Risk
Factors" in the prospectus, not all of which are known to the Company.
Neither the Company nor any other person assumes responsibility for the
accuracy or completeness of these statements. The Company will update the
information in this press release only to the extent required under applicable
securities laws. If a change occurs, the Company's business, financial
condition, liquidity and results of operations may vary materially from those
expressed in the aforementioned forward-looking statements.
SOURCE: Converted Organics Inc.
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