AXION Receives $890,000 Purchase Order for ECOTRAX 100% Recycled Composite Rail Ties From Large Multi-National Industrial Company International Business Continues To Grow
ZANESVILLE, Ohio, June 24, 2014 /PRNewswire/ -- AXION International Holdings, Inc. (OTCQB:AXIH), a leader in recycled plastic and plastic composite technologies used to produce ECOTRAX® rail ties/sleepers and STRUXURE® building products, and a vertically integrated re-processor and supplier of recycled plastic, today announced that it has received a new purchase order of $890,000 for ECOTRAX® rail ties to be shipped to a large multi-national industrial company.
The purchase order for ECOTRAX® standard size rail ties and switch ties will be installed on a self-managed rail siding. AXION is set to ship over 50 sea containers to international customers in the 2nd and 3rd quarter of this year.
"We are very excited to add another client to our growing portfolio of customers as we continue to develop a very solid and growing pipeline," said Steve Silverman, President and CEO of AXION. "We continue to focus our sales and marketing resources against opportunities where we solve problems and deliver a solid return on investment for our customers. We anticipate continued growth internationally and domestically for the remainder of this year. We have been working on some of these projects for 2-3 years and it is exciting to see them close as scheduled."
ECOTRAX® ties have proven to be resilient and impervious to climate changes, offering proven durability, longevity, and lifecycle cost saving over traditional ties while providing environmental benefits and meeting and exceeding all industry standards and specifications. ECOTRAX® ties are a viable solution for replacing wood ties, as needed, and are impermeable to rot and insect damage and reduce the harvesting of trees.
AXION currently sells its ECOTRAX® rail ties/sleepers to multiple domestic and international transit and freight railroads including a domestic class 1 contract and a trial with a second class 1.
About AXION International Holdings, Inc.
AXION (OTCQB: AXIH) is a green technology company, transforming waste plastics into structural building materials. Using 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. AXION's wholly owned subsidiary, AXION Recycled Plastics (ARPI) recycles post-consumer and post-industrial plastics. As a complete plastics recovery operation, ARPI sorts, grinds, washes, blends, and pelletizes plastic for future use, offering economic benefits to its customers, while keeping waste out of landfills. In addition, it offers toll recycling services. ARPI will continue to serve regional customers from its Zanesville, Ohio facility, and establish and grow the recycling capabilities at the Company's Waco, Texas facility to serve new customers in Texas and surrounding states, as well as provide raw materials internally for the Company to produce ECOTRAX® and STRUXURE®. 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.
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.