New Providence, New Jersey — Axion International Holdings, Inc., a leader in recycled plastic and plastic composite technologies used to produce Ecotrax® rail ties/sleepers and Struxure® building products, has announced a second purchase order for Ecotrax rail ties to be shipped to Russia and installed in track with a major transit line. The order, which called for 600 rail ties for installation with another metro transit system in Russia, was sold through Axion’s in-country distributor and business partner TVEMA.
„We are excited with the progress we have made in developing our business in Russia. Breaking into a new market with a new technology is a process that takes time. After several years of lab testing and in track trials, we are starting to see the business develop. Russia is the second largest rail network in the world and we have focused resources against this large opportunity“, stated Axion President and CEO Steve Silverman. „We are extremely pleased with our partnership with TVEMA and look forward to a very fruitful relationship as we continue to progress in the global adoption process for a high quality composite rail tie and continue to build our footprint in Russia.“
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.
Axion’s composite rail ties have potential for widespread adoption throughout Russia’s rail network, many of which traverse a variety of climates where wooden alternatives are short-lived. Ecotrax composite rail ties are made from Axion’s patented, 100%-recycled plastic formulation. Because they are inert, Ecotrax rail ties will not rot or absorb moisture, and they are impervious to insect infestation. Offering longevity and therefore a higher ROI for customers, Ecotrax also provides the added environmental benefits of recycling plastic waste and reducing the harvesting of trees.
Axion currently sells its Ecotrax rail ties/sleepers to multiple domestic and international transit and freight railroads including a domestic Class 1 contract and a trial with a second Class 1.
Source: PRNewswire / Axion International Holdings, Inc