Tuesday, May 13, 2014

Axion gets third Russian order for ECOTRAX ties

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Axion International Holdings, Inc. has received a third purchase order from Russia of its ECOTRAX® rail ties, and the second from a Moscow-based transit system, the company said Tuesday, May 13, 2014.

The purchase order consists of 1,000 rail ties, and has been sold to Axion's in-country distributor and business partner, TVEMA, an international group of companies based in Moscow whose subdivisions are involved in design, manufacture, and project development of rail diagnostic equipment.

During the past two years, New Providence, N.J.-based Axion International has been working diligently with TVEMA to introduce composite rail ties in Russia, the company said. The company noted its second purchase order by Russian sources last March.

"We are extremely pleased with this replenishment purchase order as it indicates the favorable reception we are receiving in Russia, the second largest rail network in the world," said Axion President and CEO Steve Silverman. "TVEMA has a great reputation in Russia as a very technology driven company and they have done a fantastic job introducing our rail products to various prospects in the country. The sales pipeline is building rapidly and we anticipate more progress being made throughout Russia in the near term."

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