RE: Results in the price.20 May 2009 18:39
If history repeats itself, the share price doubled in price from February to June last year, I see no obsticles to the share price enhancement from here on in on fundamentals. This cutting edge green technology company, which converts organic wastes into natural organic fertiliser, confirms that Financial Close has been achieved on the Greater Manchester Waste Disposal PFI contracts ("the PFI Contract") and TEG has concluded its contract with its customer Costain Limited ("Costain"), the company retained by the Viridor/Laing consortium to manage the construction projects for the PFI Contract. TEG's contract is for the construction of 4 TEG Silo Cage in-vessel composting plants to be constructed before 2011. The plants will provide 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 value of the contract to TEG is approximately £38m. 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. With a market cap of around £24Mns I would imagine some serious analyst attention is just over the compost heap.