Sep 16 2010
Axion International (OTCBB: AXIH) producer of the world’s strongest recycled plastic, building materials, announced today one of the largest railroads in North America has placed the first purchase order, under a letter of intent for the ongoing purchase of Recycled Structural Composite (RSC) railroad ties.
“We’re thrilled to receive this initial order from such a respected customer,” stated Jim Kerstein, Axion CEO. “Without question this is further validation that the Class 1 railroad market is looking for longer-lasting, more long-term economical alternatives to wood and concrete.
“Per the American Association of Railways the U.S. rail industry spent $7.7 billion dollars on maintaining roadway and structures in 2008,” added Kerstein. “That number is increasing annually and we believe suppliers, like Axion, who deliver more durable, environmentally friendly products with a lower cost of lifetime ownership will increase their share of that pie.”
Developed in conjunction with Rutgers University’s Materials Sciences and Engineering Department, 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.