05 February 2010
05 February 2010
Axion International Holdings has signed a Letter of Intent (LOI) with Innovative Composites International (ICI) to supply Axion’s patented thermoplastic material to ICI and their strategic partner, Universal Storage Containers (USC), for certain elements in the construction of their composite containers.
“We are pleased to assist both ICI and USC in the development of these cutting-edge containers, which are made from 100% recyclable material and are poised to revolutionize the marketplace,” stated Axion CEO, Jim Kerstein. “By utilizing our high-load thermoplastic technology for the structural components, combined with ICI’s fibre reinforced panelling, USC and ICI have been able to develop a container that is eco-friendly, light-weight, portable and capable of supporting uneven weights of up to 10,000 lbs. These relationships provide a significant new validator of our business model and offer an additional source of revenue that complements our railroad tie and bridge construction business.”
The composite containers are being developed jointly by ICI, which is supplying the Fiber Reinforced Thermoplastic (FRT) outer panels for the side walls, floor and ceiling, and USC, under the name, Z2-Box. Axion’s patented thermoplastic material will be specifically used for the structural components of these containers, including flooring substructure, corner posts and interphase connectors.
The Z2-Box product line will be targeted for storage, moving and other related industries.
According to Axion, the containers will be made of 100% recyclable materials that can be stacked three high. Each box is engineered to support up to 10,000 lbs. of uneven weight. Axion’s thermoplastic technology accounts for approximately 20% of the container’s total weight.
""Axion’s thermoplastic material is a critical component of the Z2-Box™ design, supplying the high-load support structure of the containers while allowing for their relatively light-weight characteristics compared to steel or aluminium,” said Terry Ball, ICI’s Chief Executive Officer. “We are pleased to announce the signing of LOI’s with both Axion and USC this week, and look forward to further collaboration with our partners as the Z2-Box is successfully rolled out into the marketplace over the next 6 months.”
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