AXION Receives $1 Million in Orders for ECOTRAX® Rail Ties for Transit Station and Yard Rehabilitation Project
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Company's ECOTRAX® Rail Tie Line Continues Significant Market Penetration in 2015
ZANESVILLE, Ohio – 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 million in orders for ECOTRAX® rail ties to be installed in a northeast-based transit line's rail yard and station, one of the largest transits by volume in the world. The rehabilitation project is in a Hurricane Sandy affected area that sustained major damage from flooding. The ECOTRAX® ties will be installed in the spring.
In November 2014, CEO Claude Brown noted in his letter to shareholders that AXION has "gone from market adoption to market penetration," a trend that the Company forecasts is going to lead to continued success in the transportation, construction, and energy industries. Leading the success, the Company's ECOTRAX® rail products division has shown steady growth for the past three years directly related to the increase in diversity of applications and installations.
"Like our tunnel-tie project for a different northeast-based transit line, this rehabilitation project specifies all ECOTRAX® ties," noted AXION's Cory Burdick, Director for the ECOTRAX® rail products division. "The entire rail yard and station are going to be completed solely with ECOTRAX® ties, including all turnouts and mainline ties, a first for our company. In the past, our ties were used as spot replacements for existing timber ties. With years of testing and in-track performance success, ECOTRAX® rail products have inspired confidence in major railroads, which are specifying our ties for whole projects. This particular station and yard receive a high volume of rail car traffic, are in a flood zone, and sustained major damage during Hurricane Sandy. The transit chose ECOTRAX® ties because they are inert, will never rot, and are impervious to the degrading effects of salt. Moisture and salt cause significant problems for transit lines in coastal flood zones."
Reducing maintenance is a key ECOTRAX® benefit, one that is leading to an increase in orders. In combination with diverse applications and in-track success, the Company is focused on meeting the strong increase in demand for its engineered products. "We are growing a varied portfolio of successful projects with the largest transit lines and railroads worldwide. Demand is also growing steadily, and we are poised to meet it," explained Mr. 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 construction, 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.
SOURCE AXION International Holdings, Inc.
CONTACT: Media Relations, Andrew Haag, Managing Partner, IRTH Communications, axih@irthcommunications.com, Â 1-866-976-4784
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