AXION Receives $1.71 Million in Orders for ECOTRAX® Tunnel-Tie System
Company Establishes Rail Tie Plating Services Offering Fully-Engineered Solution
ZANESVILLE, Ohio, March 5, 2015 /PRNewswire/ -- AXION International Holdings, Inc. (OTCQB: AXIH), a leader in recycled polymer technologies used to produce ECOTRAX® composite rail ties/sleepers and STRUXURE® composite building products is pleased to announce today that it has received $1.71 million in orders for plated ECOTRAX® tunnel ties from Eastern Rail Corporation for a major northeast-based transit line.
The tunnel ties are being produced and plated at AXION's facility in Waco, Texas, scheduled for installation in early spring. Including recent capacity expansion, AXION has established a complete rail tie plating fabrication line specifically for tunnel ties to offer the finished product for these orders and subsequent ones expected later this year. The Company's engineered tunnel-tie system includes a plated ECOTRAX® tie, as well as Eastern Rail's polymer-adhering grout, all of which is a direct replacement for existing wood tunnel ties.
"Within tunnels, maintenance is significantly more expensive than in other areas of track, which is a combination of the volume of transit railcars and the fixed capacity within tunnels," described AXION's Cory Burdick, Director for the ECOTRAX® rail products division. "Our value proposition features ease-of-installation with an inert product. Our tie does not rot, installs like wood, and the grout is designed to cure quickly, combining to reduce a transit's downtime for maintenance."
Instrumental in creating the complete system, Eastern Rail's President Miguel Morales designed a polymer-adhering grout that embeds into the ECOTRAX® embossing pattern as it adheres to the concrete, locking the ties in place. "We found a partner in AXION that shares our interest in being much more than a manufacturer and supplier. The industry demands more sophistication and engineered solutions to problems, not just parts," noted Mr. Morales. "The ECOTRAX® product line, especially the tunnel-tie system, is a key example of providing an engineered solution that is highly valued by railroads."
Working with a globally recognized engineering firm for over three years, AXION developed and extensively tested its tunnel-tie system. Through third-party testing at a structures laboratory and in-track trials, AXION's tunnel-tie system has proven to be superior to every alternative.
"We are able to work with railway engineers to create a solution in these critical areas, an evolution from being solely a material supplier to the industry. During the next two years, we forecast that our significant technical development work will lead to more high-value orders and contracts, directly related to the increase in demand we are seeing today," explained AXION's Cory Burdick.
About AXION International Holdings, Inc.
AXION (OTCQB: AXIH) creates innovative structural polymer solutions, engineering sustainable products and systems that provide improved long-term value, consistent performance, and reduced maintenance costs. AXION develops its solutions for the infrastructure, transportation, and energy industries. Visit www.AXIH.com.
About ECOTRAX® Composite Railroad Ties
ECOTRAX® composite rail ties are manufactured by AXION using 100% recycled plastics. Because they are inert, ECOTRAX® rail ties will not rot or absorb moisture, and they are impervious to insect infestation. Setting the industry standard, ECOTRAX® ties feature long life cycles and excel in the harshest conditions. From Australia to New York, ECOTRAX® ties are the tested, proven, and superior choice for railroads around the world. Click here to learn more.
About Eastern Rail Corporation
Eastern Rail Corporation was established in 2007, providing Miami Dade Transit with innovative and technologically-advanced products. Eastern Rail has grown beyond supplying a single transit, engineering green solutions for the transportation industry worldwide. Click here for more information.
Forward-Looking Statements
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.
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SOURCE AXION International Holdings, Inc.
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