NEW PROVIDENCE, NJ--(Marketwired - Jul 1, 2013) - AXION International Holdings, Inc. (
"There are some major pockets of increased oil and gas exploration across North America. This shipment of mats brings us into the Western Canadian expansion, the second major geography for our mats, following sales in Appalachian region," commented Steve Silverman, AXION's President and CEO. "The value of our products is evident to this industry. Our mats last longer and are lighter than the traditional hard wood alternative. They reduce the overall cost of the industry's expansion because they can be used repeatedly and cost-efficiently, moved from location to location due to their light weight. STRUXURE® Construction Mats also solve two important logistical and environmental issues for oil and gas companies. The absorption of fluids is a growing concern in this industry. Our mats are impervious to moisture; therefore they do not absorb fluids. We utilize recycled drill pad liners as a raw material, diverting these liners from landfills. We provide a closed loop solution for the oil and gas industry, providing a longer lasting lighter mat while using a bi-product as an ingredient that reduces total project costs while supplying a 100% recycled product."
According to GBI Research, the global oil field services market is forecast to increase by 40% from $152 billion in value in 2012 to $213 billion in 2017. AXION's mats will be put into field-trials by multiple energy service companies in Western Canada's thriving oil sands industry. Western Canada accounted for 3 million of the 3.2 million barrels of oil per day the country produced in 2012, according to the Canadian Association of Petroleum Producers. Canada has become the world's 6th largest oil producer and continues to be the largest supplier of oil to the United States providing the country with over 35% of its imported oil.
"Next month we will be meeting with Canadian energy service companies that are conducting field-trials of STRUXURE® Construction Mats. Our mats are estimated to last 5 times longer than hardwood alternatives in the toughest of conditions. When the energy service companies using our mats witness STRUXURE®'s performance, we believe they will be looking to AXION for more purchases," stated AXION's Executive Vice President of Building Products Dave Crane.
Market Solutions International markets and distributes products that deliver technological advancements and are proven to have a positive environmental benefit. It is a specialty distributor to the energy and infrastructure construction industries in western Canada, serving both public and private companies. "AXION's product line offers a fantastic combination of superior durability, very competitive pricing over the life of the products, and environmental benefits. We have received strong interest from oil and gas producers for STRUXURE® Construction Mats and they are eager to put them into field testing," stated Market Solutions International's Vice President of Business Development, Tom Kaptian. "As AXION's mats prove their performance capability, this will support the further adoption of AXION's other products for infrastructure building in Canada, where increasing oil production is driving infrastructure expansion."
AXION is manufacturing STRUXURE® Construction Mats at various facilities across the U.S. The mats are fabricated from AXION's ECOTRAX® railroad ties and manufactured in a variety of sizes up to 30'. AXION is currently expanding production of these items to meet growing demand.
About STRUXURE® Construction Mats
STRUXURE® Construction Mats are engineered using AXION's patented recycled structural composite formula -- produced from 100% post-consumer and -industrial plastics -- making them extremely strong and durable. Since AXION's products are inert, they are impervious to rot, fungus, insects, and moisture. STRUXURE® Construction Mats are ideal in wet or harsh-temperature environments and are resistant to abrasion and tread-wear. Because of their durability, they are an excellent cost-effective, long-term solution. STRUXURE® Construction Mats will not gain weight, warp, or lose strength when wet -- yielding consistent, reliable performance in the harshest conditions. Through AXION's buyback program the Company purchases STRUXURE® mats at the end of their useful life, recycles them into new mats and provides a credit to the customer towards new purchases. STRUXURE® mats are engineered for use in: gas and oil pipeline construction sites; access roads; work platforms; swamp access; wet job sites; staging & laydown sites; difficult terrain; remote work camps & job sites. For more information about STRUXURE® mats, click here or visit http://axionintl.com/products-composite-mats-supports.html.
About AXION International Holdings, Inc.
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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