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BOSTON, Dec 31, 2008 (BUSINESS WIRE) --
Converted Organics Inc. (NASDAQ:COIN) announced today that the Company recently hired several new employees at its Woodbridge, New Jersey manufacturing facility in preparation for the 2009 growing season and fulfillment of existing and new customer orders for the Company's organic fertilizer and soil amendment products.
"Converted Organics is currently preparing to operate our Woodbridge facility at full capacity and ship our all-natural, organic fertilizer products to customers for the 2009 growing season," said Robert C. Bayliss, Director of Manufacturing Operations for Converted Organics. "This is an exciting and critical time for us, and our new employees will contribute to maintaining efficient and effective manufacturing and operational processes as we move forward."
Gary Woznica of Millstone Township, N.J. joins Converted Organics in the role of Maintenance Manager, with responsibility for all equipment maintenance and repairs in the Woodbridge facility. Mr. Woznica will also act as the Assistant Manager of the Woodbridge site, reporting to General Manager Dean Ulrich. Carry Manoppo of Carteret, N.J. is one of two new Maintenance Technicians responsible for plant equipment repairs. Mr. Manoppo will report to Mr. Woznica. Marta Gianfrancesco of Perth Amboy, N.J. has been appointed Office Administrator, with responsibility for coordinating deliveries of incoming waste and shipments of outgoing finished products, as well as payroll duties. Ms.Gianfrancesco also reports to Mr. Ulrich.
Converted Organics is currently evaluating applicants for a second Maintenance Technician position, as well as four Shift Supervisor positions at the Woodbridge plant.
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, and a third is under development in Johnston, Rhode Island. 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. 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.
COIN-G
SOURCE: Converted Organics Inc.
For Converted Organics Inc.
Investor Contact:
PR Financial Marketing
Jim Blackman, 713-256-0369
jim@prfmonline.com
or
Public Relations Contact:
Sterling Communications
Pat Fiaschetti, 908-996-7945
sterling.pf@att.net
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