AXION Receives Purchase Order for ECOTRAX 100% Recycled Composite Rail Ties from Russian Transit Line Company Receives Fourth Order from Russia, The Second Largest Rail Network in the World
ZANESVILLE, Ohio, Oct. 7, 2014 /PRNewswire/ -- AXION International Holdings, Inc. ( 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. |
