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Parkwood and TEG join forces

27 July 2007

Glendale, the specialist green services division of Parkwood Holdings has formed a new joint venture company with The TEG Group, the AIM-listed company with a technology that converts organic wastes into natural organic fertiliser.

The JV, named Verdia Horticulture, will build and operate specialist Silo Cage In-Vessel Composting technology facilities that turn organic wastes into commercial horticultural compost products. The products will be sold to Glendale and to regional horticultural markets.

Verdia intends to build and operate between six to eight medium-scale organic waste conversion facilities of typically 10-15,000 tonnes feed per annum over the next two to three years.

Tony Hewitt, executive chairman of Parkwood, said: “We have collaborated successfully with TEG for the last 16 months and it is clear that our product expertise and knowledge of the horticultural market fits naturally with TEG's technology expertise. By creating Verdia with TEG, we have a new and exciting opportunity to expand Glendale's recycling activities within the rapidly developing UK composting market. We are delighted to have signed this new joint venture.”






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