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8-K - AXION INTERNATIONAL HOLDINGS, INC. | v209578_8k.htm |
Exhibit
99.1
Axion
International Secures Milestone $15 Million Contract with
Major
National Railway
3-Year,
Multi-Million Dollar Contract with Class 1 Railroad Represents Significant
Financial, Technological, and Production Milestones
Axion
Secures Largest Order To-Date Following Extensive Field Testing of Its
Innovative Composite Railroad Ties, Designed from 100% Recycled
Plastic
NEW
PROVIDENCE, N.J. - February 1, 2011 – Axion International (OTCBB: AXIH),
producer of the world’s strongest recycled composite plastic industrial building
products and railroad ties, today announced the signing of a $15 million
contract with one of the largest railroads in North
America. This Class 1 railroad has agreed to purchase a minimum
of $5 million per year of Axion’s innovative composite railroad ties, designed
from 100% recycled plastic.
“Entering
into this $15 million contract represents a historic event and extraordinary
milestone for Axion and our shareholders,” said Steve Silverman, Axion’s
President and Chief Executive Officer. “As we continue to expand our sales
efforts, this contract is a clear signal that the Class 1 railroad market is
looking for longer-lasting, more long-term economical alternatives to wood and
concrete and is ready to make significant investments in Axion’s innovative
recycled plastic technology.”
These
railroad ties will be made from Axion’s Recycled Structural Composite (RSC), a
revolutionary and proprietary product made from 100% recycled
plastic. The ties will be utilized for track throughout the United
States, primarily as a replacement for aging wood ties.
“As part
of its ongoing maintenance efforts, the U.S. railroad industry purchases
approximately 20 million railroad ties per year,” added Mr. Silverman. “This
contract represents our first sizable push into the domestic rail tie market and
the entire management team is extremely proud of this achievement. We believe
that Axion, which delivers more durable, environmentally friendly products with
a lower cost of lifetime ownership, has been presented with a tremendous
opportunity to increase our share of this market going forward.”
James
Kerstein, Axion’s Co-Founder and Chief Technology Officer commented, “Due to the
size and length of this multi-year contract, Axion will be able to significantly
increase the scale of our operations and improve efficiencies. As we
continue to win additional contracts of this size, we look forward to expanding
our ability to deliver Axion’s innovative recycled products for use in
structural applications in the United States and worldwide.”
Axion’s
RSC is inert and contains no toxic materials. It will never leach, warp and is
impervious to insect infestation. Because it is lighter than traditional
materials, transporting RSC is less expensive and reduces energy costs. In
addition, RSC is completely recyclable at the end of its functional
life.
About
Axion International
Axion
International is a leading structural solution provider of cost-effective
alternative infrastructure and building products. The Company’s "green"
proprietary technologies allow for the development and manufacture of innovative
structural products made from 100% recycled consumer and industrial plastics.
Axion's up-cycled products are an economic and sustainable alternative to
traditional building materials such as wood, steel or concrete. Developed in
collaboration with scientists at Rutgers University, Axion's patented
technologies allow for products that are extremely strong, durable, flexible in
design, and low maintenance.
For
additional information, please visit Axion’s corporate website:
www.axionintl.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 risk factors identified in Axion’s
filings with the Securities and Exchange Commission.
Financial
Communications Contacts:
Trilogy
Capital Partners
Darren
Minton, President
Toll-free:
800-592-6067
info@trilogy-capital.com
PR
Financial Marketing LLC
Jim
Blackman
713-256-0369
jim@prfmonline.com
Media
Relations
Sean
Mahoney
310-867-0670
seamah@gmail.com