AXION Receives Third Purchase Order for ECOTRAX 100% Recycled Composite Rail Ties from Major Transit System in Europe
ZANESVILLE, Ohio, May 20, 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 an additional purchase order for ECOTRAX® rail ties to be shipped to a major transit system in Europe. This is the third order from Europe and continues to present a large opportunity for AXION.
The purchase order was for rail sleepers for use in an in-track trial. Based on historical lab testing and the Company's market penetration around the globe, the ECOTRAX® sleepers are positioned to meet and exceed the client's needs. In addition, there will be testing for a turnout application as well as main line sleepers. The order was executed in conjunction with AXION's European partner, Sicut Enterprises Limited. Europe is currently in the process of banning the use of creosote treated wood products by 2018.
ECOTRAX® ties have been 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 standards and specifications for Europe. 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.
"We are making great strides in the European marketplace as we look to become a major quality supplier in this region of the world. In the midst of industry changes in Europe, our quality products have received strong reception and are emerging as a superior and viable solution," said Steve Silverman, President and CEO of AXION.
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.