Axion secures US$170,000 order from Australian rail line for Ecotrax recycled plastic rail ties following trial, in-track testing; product will replace wood ties affected by rot, insect damage
NEW PROVIDENCE, New Jersey
November 26, 2013
– $170,000 order follows successful in-track testing of ECOTRAX® ties purchased in prior trial order
AXION International Holdings, Inc., a leader in recycled plastic and plastic composite technologies used to produce ECOTRAX® rail ties and STRUXURE® building products, today announced that it has received a $170,000 purchase order from a major rail line in Australia for its ECOTRAX® 100% recycled plastic rail ties. The rail line plans to install ECOTRAX® in turnout applications in New South Wales for the spot replacement of wood. ECOTRAX® ties will be inserted to replace wood ties, on an as needed basis, as the wood reaches the end of its useful life due to factors including rot and insect damage. This sale follows a favorable initial trail order and in-track testing.
"We are pleased to announce yet another major victory for our ECOTRAX® rail ties. There are several reasons why Australia is a potentially huge market for our products. Most importantly, high quality wood is becoming increasingly difficult and costly to find and maintain in Australia. Secondly, traditional wood preservatives used in the U.S. are not used in Australia thus making the wood more susceptible to rot and insect attack. Our 100% recycled plastic ECOTRAX® ties are resistant to these elements. ECOTRAX® rail ties not only provide strength and durability, they also offer a cost-effective and time efficient solution for our customers. We have demonstrated that market adoption of ECOTRAX® continues to grow domestically and internationally," stated AXION President and CEO Steve Silverman.
About ECOTRAX®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.www.AXIH.com
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.
SOURCE AXION International Holdings, Inc.