NEW PROVIDENCE, N.J., Nov. 18, 2013 /PRNewswire/ -- AXION International Holdings, Inc. (OTCBB: AXIH), a leader in recycled plastic and plastic composite technologies used to produce ECOTRAX® rail ties and STRUXURE® building products, today announced it recently shipped on the fifth purchase order for ECOTRAX® rail ties to one of the largest multi-national chemical companies. Including the four prior purchase orders, which were shipped in the first ten months of 2013, AXION has sold over $170,000 worth of ECOTRAX® to this customer. The chemical company has installed ECOTRAX® ties on one of its internal rail spurs. Internal rail spurs are rail lines, used by industry, which run into an industrial park to serve warehouses or manufacturing plants.
"This specific application, on an internal rail spur at a chemical plant, is one where ECOTRAX®'s unique strengths really add value. Unlike wood or concrete ties, our ties are impervious to chemicals and do not rot or become damaged if there is spillage, therefore our ties do not require frequent replacement. Tie replacement and down time become very expensive in many cases where rail spurs are the only way companies can get merchandise in and out of their facilities. Internal, corporate rail yards are a growing business opportunity, as rail utilization continues to grow domestically," stated AXION President and CEO Steve Silverman.
"In the past year, AXION has diversified its revenue base with respect to customers, product applications, and purchase order size. As an indication of this trend, we just received an additional purchase order for ECOTRAX® from a new customer, for installation on an internal rail spur of one of the largest oil companies in the world," Silverman added.
ECOTRAX® composite rail ties are made from AXION's patented, 100%-recycled plastic formulation. Because they are inert, ECOTRAX® rail ties will not rot or absorb moisture, and they are impervious to insect infestation. Setting the industry standard for composite rail ties, ECOTRAX® rail ties meet and exceed all American Railway Engineering and Maintenance-of-Way Association specifications and are continuously tested at third-party laboratories and in track. ECOTRAX® rail ties feature long life cycles and excel in the harshest conditions, making them a cost-effective choice in road crossings, switches and turnouts, open-deck bridges, and freight line track. From Australia to New York, ECOTRAX® rail ties are the tested, proven, and superior choice for railroads around the world. For more information about ECOTRAX® rail ties, click here to learn more.
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. 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.