NEW PROVIDENCE, N.J., Dec. 13, 2013 /PRNewswire/ -- AXION International Holdings, Inc. (OTCQB: AXIH), a leader in recycled plastic and plastic composite technologies, today announced that it will host a conference call on Tuesday, December 17th at 4:15pm ET to discuss recent corporate milestone events, including the launch of its recycling subsidiary AXION Recycled Plastic Incorporation through the acquisition of significant assets and the signing of a 3-year $42 million contract. This strategy allows AXION to manufacture its ECOTRAX® and STRUXURE® building products more efficiently with projected improved margins.
By straddling both the recycling processing and green building industries, AXION has uniquely positioned itself to take full advantage of an expanding market opportunity. According to a new report from Navigant Research, the worldwide market for green construction materials will grow from $116 billion in 2013 to greater than $254 billion in 2020. This is driven by a combination of policies and regulations to prioritize energy efficiency and green design such as cost reductions for green materials, increase in consumer demand and growing evidence that green buildings confer quantifiable market advantages.
AXION has already tapped into this market through the sale of its recycled composite rail ties, and is in use by major transit and freight rail operators worldwide, including one major domestic Class 1 railroad customer and testing with another. AXION's construction materials including its STRUXURE® mats are now in use by energy contractors and multiple infrastructure contractors as well as in mining, oil and gas, and other heavy industrial applications.
The recent acquisition of assets of Y City Recycling, and the launch of AXION Recycled Plastics Incorporated were supported by the funding of three primary long-term investors. Their contributions, totaling more than $13 million in the past 18 months have been instrumental in building out AXION's operations and completing the acquisition to vertically integrate the operations of the Company.
This acquisition led to the subsequent signing of a 3-year $42,000,000 contract to provide High Molecular Weight High Density Polyethylene (HDPE HMW) to one of the largest thermoplastics companies in the US. This is AXION's largest contract since the Company's inception, and will propel the Company to new levels of revenue and scalability.
"AXION has achieved a number of significant strategic goals in the recent months," stated AXION President and CEO Steve Silverman. "We have executed on the objectives we set out for the Company, specifically on the vertical integration of our business, the focus of achieving higher sales volumes from our customers, and increasing our gross margins. The launch of our new recycling subsidiary has allowed us to truly partake in the end-to-end close loop solution for transforming post-consumer and post-industrial plastic waste into high grade infrastructure building products and rail ties. We now have the ability to diversify our customer base and create more room for revenue growth. This represents months of hard work and a monumental end to the year. Our pipeline of sales opportunities have already grown and we look forward to continuing this progress into the New Year."
The teleconference can be accessed by dialing 877-407-9079 when calling within the United States or 201-493-6746 when calling internationally. Please dial in 10 minutes prior to the beginning of the call. There will be a playback available until December 24, 2013. To listen to the playback, dial 877-660-6853 when calling within the United States or 201-612-7415 when calling internationally. The replay ID number: 414271.
A live webcast and archive of the call will also be available on the Investor Relations section of AXION's website at: http://axionintl.equisolvewebcast.com/ic-2013.
About AXION Recycled Plastics, Inc.
AXION Recycled Plastics recycles post-consumer and post-industrial plastics including HDPE, PP, PVC, TPO, and PS in many forms. As a complete plastics recovery operation, AXION Recycled Plastics sorts, grinds, washes, blends, and pelletizes plastic for future use, offering economic benefits to its customers, while keeping waste out of landfills. In addition, they offer toll recycling services. AXION Recycled Plastics 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®.
For further details regarding this asset acquisition please refer to the 8K filed by AXION with the Securities and Exchange Commission on November 21, 2013.
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.