Financial Close has been achieved on the Greater Manchester Waste Disposal Authority PFI contracts, leading to closure for TEG with its customer Costain, the company retained by the Viridor/Laing consortium to manage the construction projects for the PFI Contract.  The overall PFI contract value is estimated to be in excess of £3 billion and is recognised as a major boost to the economy, creating a large number of jobs and revolutionising the way Greater Manchester deals with waste.

TEG will provide four of its award winning Silo Cage in-vessel composting facilities by 2011, providing capacity to compost 175,000 tonnes per annum of green and food waste collected from householders in the Greater Manchester region.  The plants will produce approximately 125,000 tonnes per annum of compost, to be used in agriculture and horticulture in the region.  The first facility to be constructed is in Rochdale, where building works have been underway since June 2008.  The remaining facilities will be constructed in Bredbury, Bolton and Trafford Park.

TEG's Chief Executive Mick Fishwick said: "We are absolutely delighted to have concluded the Greater Manchester Waste Disposal PFI contract, which is a major endorsement of TEG and its technology. This contract reinforces TEG's position as the clear leader in the in-vessel composting market.

"We are very pleased to be playing a major part in the implementation of Europe's biggest ever waste management contract and we look forward to working with companies as prestigious as Costain, Viridor, Laing and the Greater Manchester Waste Disposal Authority.

"It is also very pleasing as a local supplier to be supporting a prestigious project within the North West and this contract is a boost to the local economy. In TEG alone an additional 10 jobs have been created and our own subcontractors have also boosted their workforces to meet the upsurge in business.  As a whole it is expected that this exciting waste management project will create an estimated 5,000 jobs across the region in the building trade and across the wider economy."

 ENDS