BOSTON, May 25, 2011 (GLOBE NEWSWIRE) -- Converted Organics Inc. (Nasdaq:COIN) announced today that Crop Production Services, Inc. (CPS), a wholly owned subsidiary of Agrium Inc. (NYSE:AGU) and the largest agricultural retailer in the U.S., has expanded their use of Converted Organics liquid fertilizers on blueberry and wine grape acreage in Oregon.
"Our fertilizers have been shown to improve growers' yield, both in terms of quality and quantity. For high value crops such as blueberries and wine grapes, every increase in yield translates into meaningful increases in the value per acre to these growers. That's why we're seeing additional markets open up for us," said David Flannery, Vice President of Sales & Marketing for Converted Organics Inc.
The CPS branches in Oregon will be expanding their use of Converted Organics liquids on organic blueberry and wine grape acreage and blending them with synthetic fertilizers to improve yields for conventional crop production. Flannery commented, "The trend in the Willamette Valley is to use fewer production inputs, especially chemical fertilizers. Converted Organics LC 1-1-1 enables growers to cut back on historical NPK standards and improve the biological productivity of the soil. This is important given that much of the blueberry acreage in Oregon was previously used to grow grass seed, which resulted in degraded soils over time."
"Wine grapes are valued at $77 million in Oregon, the second highest valued Fruit & Nut crop in Oregon, and the state ranks third nationally in terms of the value of its blueberry production. The Pacific Northwest and Idaho represent great growth opportunities for our organic fertilizer business," added Flannery.
About Converted Organics
Converted Organics' (Nasdaq:COIN) mission is to promote, develop and operate profitable innovative clean technologies that contribute to the improvement of our environment by use of sustainable business practices and the judicious use of natural resources. Converted Organics Inc. is currently composed of three primary lines of business at the intersection of Agriculture, Water and Waste Recycling. Each business contributes to our mission and uses sustainable business practices that protect and value the environment. The three lines of business are Organic Fertilizer (Converted Organics), Vertical Farming (TerraSphere Systems - ), and Industrial Wastewater Treatment (Industrial Wastewater Resources).
The Converted Organics Inc. logo is available at
About Crop Production Services
Crop Production Services (CPS) was established in 1983, but predecessor companies began operating as early as 1859. CPS continues to grow by being an innovative, full-service agriculture retailer with a vision. Crop Production Services is committed to being the leading provider of agricultural inputs in each of their markets, with 326 facilities and satellites in 24 states east of the Rocky Mountains, 21 division offices, 44 terminals and 12 distribution centers, custom blended fertilizer, agricultural chemicals, seed, custom application, field scouting and precision agriculture. Crop Production Services, Inc. is a wholly owned subsidiary of Agrium Inc. (NYSE:AGU).
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, not all of which are known to the company, described most recently in the "Risk Factors" section in the Company's most recently filed annual report on Form 10-K. 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
CONTACT: Investor Contacts: George McIntyre, 212-732-4300 CEOcast, Inc. Gmcintyre@ceocast.com or Jim Blackman, 713-256-0369 PR Financial Marketing jim@prfmonline.com or Converted Organics Inc. investor@convertedorganics.com 617-624-0111
