AXION Commissions New Extruder to Increase Capacity and Fill Demand
NEW PROVIDENCE, N.J., Dec. 23, 2013 /PRNewswire/ -- AXION Recycled Plastics Incorporation, a reprocessor of recycled plastic materials and a wholly owned subsidiary of AXION International Holdings, Inc. (OTCQB: AXIH), today announced that the Company has commissioned an additional extrusion line to increase its manufacturing capacity to meet growing demand.
The newly commissioned equipment is a Davis Standard 6" extruder, which began production on December 13, 2013. The installation of this extruder will add an additional 1,800,000 lbs. of reprocessed (pelletized recycled plastic resin) to the Company's monthly capacity. The machine is capable of processing post-consumer and post-industrial plastic.
"This is a great accomplishment for us to commission this extrusion line which will expand our capacity and capability to meet the increase in customer demands," commented AXION President and CEO Steve Silverman. 'This was the first major project for our new company and it was great to see this completed on time and within budget. With the addition of this extruder, we now operate 5 extrusion lines across 2 facilities, allowing us to provide value added products to our customers."
AXION recently announced the signing of a 3-year $42,000,000 contract to provide HDPE HMW to one of the largest thermoplastics companies in the US.
About AXION International Holdings, Inc.
AXION (OTCQB: AXIH) is a vertically-integrated green technology company, and a leader in transforming waste plastics into structural building materials and value added reprocessed plastic resins. From the railroading industry to the military to global engineering firms, AXION delivers tested, proven and superior green solutions to infrastructure needs around the world. The Company's subsidiary, AXION Recycled Plastics Inc., recycles post-consumer and post-industrial plastics. Using these 100%-recycled consumer and industrial plastics, AXION develops, markets and sells its recycled structural composite products through its ECOTRAX® composite rail tie and STRUXURE® building material lines. www.AXIH.com
This release contains "forward-looking statements" for purposes of the Securities and Exchange Commission's "safe harbor" provisions under the Private Securities Litigation Reform Act of 1995 and Rule 3b-6 under the Securities Exchange Act of 1934. These forward-looking statements are subject to various risks and uncertainties that could cause AXION's actual results to differ materially from those currently anticipated, including the availability of materials at favorable pricing, sufficient manufacturing capability and the risk factors identified in AXION's filings with the Securities and Exchange Commission.
SOURCE AXION International Holdings, Inc.