Plastic sleeper joint venture
INTERNATIONAL: Axion International and Sicut Holding have agreed to establish Axion Rail as a 65:35 joint venture which will supply recycled composite sleepers worldwide under licence from Rutgers University.
'We have been working with our partners at Sicut since Axion’s founding’, said Axion President & CEO Steve Silverman. Axion is the Rutgers licencee for the Americas, Australia, South Korea, Russia and part of China, and Sicut for Europe, India, South Africa, southeast Asia and also China.
'The time has come to take advantage of our synergies and combine forces to sell our innovative products on a truly global basis’, said Silverman. 'Working with Sicut we can deliver quality recycled structural composite products to our customers with an expanded geographic offering as Axion penetrates the $3bn market of Europe and other territories for the first time.’