AXION Receives $471,000 in Purchase Orders For ECOTRAX 100% Recycled Composite Rail Ties From Major Australian Rail Networks
Company Receives 3rd Purchase Order from Australia during Q2 and Q3 of 2014
ZANESVILLE, Ohio, Aug. 11, 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, announced today that it has received its third purchase order totaling $471,000 for ECOTRAX® rail ties to be shipped to Australia.
AXION's ECOTRAX® rail ties are being installed throughout Australia on both mainline and specialty applications. AXION received Type Approval from multiple major freight railroads in Australia following roughly 3 years of successful in-track testing, which has led to an increase in demand.
Cory Burdick, Global Manager ECOTRAX Rail Division of AXION said, "With the completion of successful in-track testing, we are in the process of filling orders as the Australian market has been receptive and impressed with the many benefits that ECOTRAX rail ties have over traditional hardwood ties. We have taken considerable time and focus to develop the market and we anticipate many forthcoming purchase orders."
ECOTRAX® ties have 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 industry standards. 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.
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. 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.
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SOURCE AXION International Holdings, Inc.
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