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TEG concludes contract Co Mingled Waste with Essex County Council

15th March 2010

 

 

The TEG Group Plc, the AIM-listed cutting edge green technology company, which develops and operates organic composting and energy plants, is pleased to announce that its subsidiary TEG Environmental Limited has concluded a contract with Essex County Council and Southend Borough Council ("the Council") to process co-mingled food and garden waste ("Mixed Waste").  The services will commence on 1 June 2010 and the Mixed Waste will be processed at TEG?s in-vessel composting facility at Carleton Rode, which was acquired by the Company on 19 June 2009.

 

The contract is a Framework Agreement for a 4-year term during which TEG will bid annually for waste, in lots, that will be available each contract year.  The waste volume for the remaining period of 2010 has already been determined by the Council and TEG will receive an estimated volume between 7,000 and 11,000 tonnes over the 6 month period from 1 June 2010.  The volume and revenues for the remaining term of the Framework Agreement will be determined at the start of each Contract Year.

Commenting for TEG, Chief Executive Mick Fishwick said: "We are delighted to have been awarded the Mixed Waste contract by Essex County Council and Southend Borough Council. TEG has already been successful in renewing key contracts with existing customers and with the award of this Council contract the Carleton Rode facility will be at full capacity by June 2010, exceeding the objectives set by the Company on acquisition."

 

 

 

 

ENDS

 

 

Contact:

 

The TEG Group Plc                                          Tel: 01772 644980

Michael Fishwick, Chief Executive

 

Peckwater PR                                                  Tel: 07879 458 364

Tarquin Edwards                                               

 

Canaccord Adams (Nomad)                             Tel : 020 7050 6500

Robert Finlay

Guy Blakeney

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