15:14 | 08.12.2009
Converted Organics Continues U.S. Sales Force Expansion
Converted Organics Inc. (NASDAQ:COIN)
announced that the Company has continued to expand its U.S. sales force
with the recent appointment of Geoffrey McInnes as sales representative
for fertilizer products into the agriculture market in the Pacific
Northwest. Mr. McInnes will report to Converted Organics’ Vice President
of Marketing, David A. Flannery, and is the third new sales
representative to join Converted Organics within the past month.
Mr. McInnes brings over 20 years of sales and agriculture experience to
Converted Organics. Prior to joining Converted Organics he spent 11
years as Vice President of Sales for Natural Sciences Group, Inc. of
Fresno, CA, where he was responsible for sales of agriculture products
to both organic and conventional growers. Mr. McInnes’ previous
experience also includes tenures at Bio-Ag Services and Helena Chemical
Company.
“Converted Organics is now very well positioned for sales growth in the
agriculture market, given the recent additions of Geoffrey McInnes and
two other, previously-announced, highly capable and experienced sales
representatives, Michael W.H. Garrett and Michael Knight,” said David A.
Flannery, Vice President of Marketing for Converted Organics. “This
quarter, Converted Organics has more than doubled the size of our sales
force to leverage key growth opportunities in the U.S. agriculture
market.”
About Converted Organics Inc.
Converted Organics (NASDAQ:COIN, www.convertedorganics.com),
based in Boston, MA, is dedicated to producing high-quality,
all-natural, organic soil amendment and fertilizer products through food
waste recycling. The Company uses its proprietary High Temperature
Liquid Composting (HTLC) system, a proven, state-of-the-art microbial
digestion technology, to process various biodegradable food wastes into
dry pellet and liquid concentrate organic fertilizers that help grow
healthier food and improve environmental quality. Converted Organics
sells and distributes its environmentally-friendly fertilizer products
in the retail, professional turf management, and agribusiness markets.
Converted Organics’ flagship manufacturing facility is located in
Woodbridge, New Jersey. A second manufacturing site is located in
Gonzales, California. 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 percent,
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. In a number of lab and field trials, Converted
Organics’ 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. Increased use of
nitrogen in commercial agriculture and turf grass applications, such as
on 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 reduces chemical run-off
to streams, ponds and rivers, an objective with significant long-term
benefits to the environment.
Converted Organics’ products have a long shelf life compared to many
other organic fertilizers. 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.
Forward-looking statements include the ongoing customer demand for the
Company’s products and the Company’s ability to continue to become more
efficient in its operations.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 the “Risk Factors” section in the Company’s most
recently filed annual report on Form 10-K, as updated in the Company’s
quarterly reports on Form 10-Q filed since the annual report, 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.
COIN-G
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