TEG restructures for big growth
TEG Environmental has restructured its operations in preparation for strong growth this year and beyond. The company has just secured its biggest ever order - selected as a principal sub-contractor to the consortium awarded preferred bidder status for the Greater Manchester Waste Disposal Authority.
TEG expects to build four plants as part of the consortium, the combined capacity of which will be 180,000tpa. Depending upon the final scope of supply, the total value of the construction projects to TEG will be up to £35M over the preiod 2007 to 2010.
As a result of this, and other activities, the company has renamed itself as TEG Group and has created two subsidiary operating companies – TEG Environmental and the Natural Organic Fertiliser Company (NOFCO).
Parent company TEG Group will be responsible for the strategic direction of the operation, managing shareholder expectations, fundraising and monitoring the two operating companies.
The main operating company will be TEG Environmental, which will be responsible for the design and installation of specialised plant and equipment for the composting of organic wastes for sale to third party customers and for in-house projects.
Its silo cage system is a commercial scale, continuous-flow thermophilic composting plant that converts organic wastes into a high quality, natural end product. NOFCO, meanwhile, has been created to market all end products from the composting plants to agricultural, horticultural and domestic markets.
Mick Fishwick, chief executive of TEG Group, explains the reasons behind the changes: “In the past 12 months TEG has seen tremendous growth with several major projects about to come to fruition.
“We are in the last stages of commissioning new developments for clients in Norfolk and Swansea and our own facility in Todmorden is currently ten weeks ahead of schedule. With further major development planned during 2007, we felt the time was right to change our structure to prepare us for the continued growth of the business.”
© Faversham House Ltd 2023 edie news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.
Please login or Register to leave a comment.