16 Jan 2007 10:52
TEG Group (The) PLC16 January 2007 Immediate release 16 January 2007 TEG ENVIRONMENTAL PLC (TEG) ("TEG" or "the Company") Change of Parent Company Name to The TEG Group PLC TEG Environmental Plc ("TEG" or "the Company"), the AIM-listed cutting edgegreen technology company, announces that following all resolutions being passedat its Extraordinary General Meeting held on December 21st 2006 and clearancefrom Companies House, TEG Environmental Plc, as the parent company, will berenamed The TEG Group PLC. The change of name will take effect on the AIM market from today 16/01/07 andthe Company's ticker symbol (TEG) will remain unchanged. The TEG Group PLC has two 100% owned subsidiaries, TEG Environmental Ltd and TheNatural Organic Fertiliser Company Ltd. TEG Environmental Ltd is the principleoperating company and the Natural Organic Fertiliser Company Ltd ("NOFCO") is amarketing company, focused on the development of compost markets. ENDS Contact: TEG Environmental Plc Tel: 01772 314100Michael Fishwick, Chief Executive Adventis Financial PR Tel: 020 7034 4760 / 020 7034 4758Peter Binns/ Tarquin Edwards 07768 392 582 / 07879 458 364 Cannacord Adams (Nomad) Tel : 020 7050 6742Chris Bowman Editor's Notes: Natural Organic Fertiliser Company Ltd NOFCO is a marketing company specialising in the development of end markets forcompost products, an important aspect of all plant developments and key to localauthority development. The company has an expertise in the development ofagricultural and horticultural markets and this capability is to be provided tocustomers to enhance TEG's overall service offering. The TEG Group PLC TEG provides an in-vessel composting technology, which is one of the fewapproved technologies capable of treating animal by-product (ABP) waste. Planteconomics are predominantly driven by the gate fees charged, rather than thevalue of the end product (compost). The TEG process is an economic alternativeto landfill. The Silo Cage system, one of the few technologies in Europe capable of treatingthis waste, is a natural process producing compost as an end product, used as anexcellent soil conditioner that fertilises, retains moisture, provides structureand reduces the incidence of plant disease. TEG's Silo-Cages are housed inself-contained buildings, are not unsightly and are environmentally friendly. Customers include local authorities, waste management companies, foodprocessors, farmers and landowners. The Company's expanding market is driven byincreasingly stringent EU and UK legislation regulating the treatment anddisposal of organic waste. Statutory targets for the diversion of waste fromlandfill increase annually through to 2020, increasing TEG's market opportunityyear on year. The Waste Resource Action Programme estimates that 450 compostingplants will be needed by 2020 to satisfy local authority requirements alone, andthere is increasing demand from the private sector driven by ABP legislation. This information is provided by RNS The company news service from the London Stock Exchange