Canadian Packaging

$42-million contract for Axion Recycled Plastics

By Canadian Packaging Staff   

General AXION International Holdings AXION Recycled Plastics Incorporated plastic composite recycled plastic thermoplastics

Recently launched recycled plastics subsidiary is awarded a multi-year contract with one of the largest thermoplastics companies in the US.

NEW PROVIDENCE, N.J—In a major deal adding $42-million of new revenues, AXION International Holdings, Inc., a leader in recycled plastic and plastic composite, has announced its subsidiary, AXION Recycled Plastics Incorporated, has signed a three-year contract to provide recycled materials to a major thermoplastics company.  The contract is renewable in 12-month increments.

The customer, one of the largest heavy gauge thermoformers in the U.S., has agreed to purchase High Molecular Weight High Density Polyethylene (HDPE HMW) in monthly volume commitments from AXION Recycled Plastics.

“In such a short period, we have demonstrated immediate success for our newly-launched subsidiary, AXION Recycled Plastics,” states AXION President and chief executive officer Steve Silverman. “In addition, the vertical integration of our operations enable an increased capacity to support our customers’ needs. This contract strengthens our presence as a provider of reprocessed plastics and we anticipate receiving more contracts.”

AXION Recycled Plastics is a newly established subsidiary of AXION International Holdings, Inc., and positions the company as a major recycled materials processor and supplier in the Midwest and Southwest US.

AXION Recycled Plastics will manufacture the HMW pellet tailoring the material specifically to meet the customer’s specifications. There will be a return loop for packaging in place in a conscious effort to reuse in addition to recycling.

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