ZANESVILLE, Ohio, May 21, 2015 /PRNewswire/ -- AXION International
Holdings, Inc. (OTCQB: AXIH), a leader in recycled polymer
technologies used to produce ECOTRAX® composite rail ties and
STRUXURE® composite building products is pleased to announce today
that it has signed a master distribution agreement with Superior
Energy Resources, LLC, a leading specialty distributor in the
Marcellus and Utica shale regions,
for the exclusive sale of AXION's STRUXURE® laminated mats in
Pennsylvania, Ohio, and West
Virginia for use on upstream oil and gas project sites.
The exclusive master distribution agreement with Superior Energy
includes purchase targets of laminated mats, as a condition of
exclusivity, which cumulate to first year annualized sales of
$8.0 million in the region.
Based in Brockway,
Pennsylvania, Superior Energy's demand for on-time supplies
is critical to meeting the needs of its customers. The proximity of
AXION's Ohio-based facility to
project sites in the region has facilitated meeting on-time
commitments.
"We pride ourselves on providing the highest level of service,
and that is what we expect for our partners and suppliers," stated
Superior Energy's COO Stan Foster.
"AXION's Ohio facility is key to
helping us meet our commitments, and AXION's engineered products
are solutions to problems we encounter in the field throughout the
year, not simply supplies that need to be replaced. We know that we
can count on AXION to deliver a superior product on time every
time. We have an important partnership that we expect to grow
profitably over time."
STRUXURE® laminated mats are part of AXION's newest product line
extension within the STRUXURE® composite matting product group. The
laminated, or layered, mats combine two polymer-based technologies,
leveraging the benefits of each to achieve a strong, durable, and
adaptable finished mat.
"Drilling sites where our laminated mats are being used are a
perfect application for our new composite mats as they are built
upon graded, crushed-gravel soils," explained AXION's Executive
Vice President Dave Crane. "Strength
in compression, surface durability, and absorption of fluids are
common problems with supplies on these sites. Traditional materials
rot and wear out rapidly on these sites. The durable,
non-absorptive qualities of our mats offer a lasting solution in
this demanding environment, as well as one that won't degrade or
lose its strength over time."
AXION's full assortment of composite matting products is
engineered to combine strength with durability in the harshest
environments. STRUXURE® Heavy Mats are currently in service on
multiple midstream energy and civil construction projects.
"The value in our engineered solutions is that they combine
strength with durability over time, both of which are highly valued
in the markets we have chosen to serve, especially energy,
transportation, and construction. We are launching additional
composite matting solutions to meet market demand this year,"
stated AXION's Dave Crane.
AXION has also received a more than $400,000 order from H.J.
Skelton (Canada) Ltd. for
pipeline supports to be used in northern Canada by one of its country's largest energy
companies. Founded in 1883, H.J. Skelton (Canada) Ltd. prides
itself as an "ethical company," serving the needs of the railroad
and engineering industries in Canada. "Since 2011, we have distributed
AXION's ECOTRAX® line of rail ties to Canadian transit lines with
great success. We value AXION's dedication to quality and its
environmental ethic, as well as engineering polymer-based solutions
that go well beyond material supply," said H.J. Skelton's President David Chapman. "Our customers seek the highest
value for projects, and we partner with AXION because it always
delivers on its promise to engineer the best solution for the
application."
Working with engineers to create a specification for the
pipeline supports, AXION's team knew that legacy or traditional
materials were subject to rapid degradation in the harsh conditions
found in northern Canada.
"Severe swings in temperature subject materials to multiple
freeze-thaw cycles," described AXION's Cory
Burdick. "These freeze-thaw cycles wear out timber- or
concrete-based material rapidly, and they are very costly to
replace, especially when supporting pipeline infrastructure. Our
pipeline supports were tested in field applications for two years
prior to being specified." The environmental sensitivity of the
timber-based products led to the introduction of various
polymer-based products in which AXION competed.
Diversifying AXION's portfolio of engineered solutions and
applications is key to success in 2015 and beyond, according to
Claude Brown, Jr., AXION's CEO.
"Meeting market demand with valuable solutions is critical to
profitable growth and our path forward this year," commented Mr.
Brown. "In the case of our pipeline supports, our team was able to
work with engineers to create a specification based on our product,
making AXION the standard by which other products are measured. It
is our goal to continue engineering valuable and highly-valued
solutions as we meet strong demand now and even stronger
anticipated demand in the future."
Even with this commercial progress, the need for additional
capital remains. AXION's investment banker, Gordian Group,
LLC, is contacting potential sources of financing with the aim of
securing interim funding as a precursor to obtaining the additional
capital needed to maintain and grow the business. As these
efforts continue, AXION is projecting a near-term lack of liquidity
within the next several weeks that is causing AXION, its advisors,
and its Board to consider all options available to maintain
business operations, encourage investment and to provide adequate
time for responsible management of the process.
About AXION International Holdings, Inc.
AXION (OTCQB: AXIH) creates innovative structural polymer
solutions, engineering sustainable products and systems that
provide improved long-term value, consistent performance, and
reduced maintenance costs. AXION develops its solutions for the
construction, transportation, and energy industries. Visit
www.AXIH.com.
About Superior Energy Resources, LLC
Superior Energy Resources is a family business located in
Brockway, Pennsylvania, that
supports and services the shale gas industry. Offering backyard
services at the drill rig, rig mats, hoses and fittings, access
mats, steel fabrication, containment, and more. You're in our
backyard. Why aren't we in yours? 814-265-1080 or
sales@serllc.co.
About H.J. Skelton
(Canada) Ltd.
Founded in 1883, H.J. Skelton has
been supplying the highest quality products to railways and
transits. Skelton is a reliable source for metal and railway
products, drawing on many years of experience in providing its
customers with products manufactured to the latest and best designs
in the world from a company that is owned and operated by
Canadians. Visit www.skelton-metals.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.