Primix Announces Mitsubishi As Strategic Investor

23 November 2000

The Primix Corporation, manufacturer of the revolutionary "Primix Engineered Composite Railroad Tie", announced today it has completed the sale of Primix common stock to Mitsubishi International Corporation. Details of the agreement have not been disclosed but the impact of this investment alliance could dramatically expand and accelerate the growth opportunities of Primix's technologically advanced railroad tie. Mitsubishi International Corporation (MIC) is a wholly owned U.S. subsidiary of Japan's Mitsubishi Corporation, one of the world's premier global trading and investment companies. MIC is a unique knowledge-based company that offers a broad range of services, including a practical, cross-functional approach to expanding international business opportunities. Marc Shea, president of Primix Corporation stated, "We are very excited about Mitsubishi taking an equity stake in Primix. As a major international trading company, Mitsubishi will provide the global support needed to capture a major share of the US$14 Billion worldwide railroad tie market. We felt extremely positive about choosing Mitsubishi as a strategic equity partner because of their proven experience in investing in new industrial related technology companies, and assisting in the commercialization of their products, both domestically and internationally."

Share this story