ZANESVILLE, Ohio, Oct. 7, 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 a purchase order for
ECOTRAX® rail ties to be shipped and installed in Russia's transit system. This is the Company's
fourth order from Russia,
signifying strong international demand.
This purchase order, which consists of 1,000 rail ties, was sold
to AXION's in-country distributor and business partner, TVEMA, an
international group of companies based in Moscow whose subdivisions are involved in the
design, manufacture, and project development of rail diagnostic
equipment. Over the past two years, AXION has been working
diligently with TVEMA to introduce composite rail ties in
Russia.
AXION's Vice Chairman Steve
Silverman said, "We are delighted with our relationship with
TVEMA and the traction we received through the continuous and
consistent purchase orders from Russia. Russia is the second largest rail network in
the world and it is notable that they are rapidly adopting our
technology."
Russia's railway system is the
country's key mode of transportation, with an operational length of
over 85,000,000 kilometers, making it the second largest rail
network in the world. According to Railway Technology, a current
rail modernization plan in Russia
calls for the construction of up to 20,000 kilometers of new
routes, the upgrade of 13,800 kilometers of freight lines for heavy
axle loads, among other improvements, at an estimated cost of
$353 billion by 2030. The European
Bank for Reconstruction and Development (EBRD) has invested more
than $1.6 billion in 13 Russian rail
projects since 2001.
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.