Business & Finance
Business and Finance
Business and Finance 
Wed, December 23, 2009
Tue, December 22, 2009
Converted Organics Announces New Distribution Partners
BOSTON--([ BUSINESS WIRE ])--Converted Organics Inc. (NASDAQ:[ COIN ]) announced today that it has added two new companies to its nationwide network of distributors. Ballard Sports, a division of Ballard Construction, Inc., specializes in athletic field construction, sports turf maintenance, and athletic field renovation along the East Coast. Liberty Acres Fertilizer Corporation, a division of B.B. Hobbs Company, Inc., is a single-source fertilizer company serving multiple industries throughout the Southeast.
"Converted Organics' network of distributors includes many well-regarded companies across a variety of industries, including professional turf, crop production, and residential lawn care"
"Converted Organics' network of distributors includes many well-regarded companies across a variety of industries, including professional turf, crop production, and residential lawn care," said David A. Flannery, Vice President of Marketing for Converted Organics. "Ballard Sports and Liberty Acres Fertilizer are valuable additions to our network due to their client base, industry experience, and geographic locations."
About Ballard Sports
Ballard Sports specializes in Athletic Field Construction, Sports Turf Maintenance, Athletic Field Renovation, and Synthetic Surfaces. Ballard Sports' services include site master planning, design, construction, and maintenance of all types of Athletic Facilities. Ballard Sports has offices in the Northeast, Mid-Atlantic, and Southeast to provide full Athletic Field services to the East Coast.
About Liberty Acres Fertilizer Corporation
Liberty Acres strives to represent the highest standards possible in products and services. The materials manufactured and distributed by Liberty Acres Fertilizer Corporation are truly premium grade materials with proven performance, yet are priced competitively to yield the best return on investment. Through our association with [ B.B. Hobbs Company ], Liberty Acres' knowledge expands beyond the material itself, with a firm grasp on fertilizer systems, pumps, injectors, and application assistance.
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.
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