May 6 2008
Axion International, a wholly-owned subsidiary of Analytic Systems, Inc. an emerging leader in the alternative infrastructure and building products industry, today announced the signing of a lease/license agreement with American Container and Recycling, "ACR". Under the terms of the worldwide agreement, Axion has the exclusive right to manufacture, distribute and license ACR's patented technology and retain an option to buy ACR in a stock transaction.
Axion will combine its breakthrough technology with established marketing channels to expand the market for these lighter, quieter and lower maintenance receptacles. Jim Kerstein, Axion International CEO stated, "Axion, in conjunction with Rutgers University, has developed plastics technology focused on using recycled plastics in a wide variety of industries. Our technology will open up opportunities in markets that have been made obsolete by skyrocketing oil prices."
John Lorenz, ACR - CEO added, "ACR has operated as a leader in the development and manufacture of waste containers until confronted by skyrocketing plastic costs, driven by the price of oil. Axion's patented technology will allow for the replacement of costly engineering grade plastics with substantially more cost efficient, better performing recycled resins. The ACR customer base includes retail, residential, commercial / industrial, and automotive markets. As a part of this industry and as a direct user of waste plastics, this is a natural extension of Axion's product line."
ACR is a product development and licensing company based in Washington State. The company has developed and patented innovative rotationally molded and plastic products for the Municipal, Industrial, Commercial, and Residential sectors. Serving the refuse and recycling industries, the company's products include the patented Whisper Series(R) Containers.
Kerstein further stated, "The combined technologies represent an important growth opportunity for Axion. In working with ACR, Axion has seized the unique opportunity to close the recycling circle by inserting itself into the waste-collection industry. The containers that we will be supplying will be purchased by the waste industry and be part of the collection process. The containers themselves will be made from recycled resins. The waste materials collected will then be used in the production of railroad ties and bridges as well as new containers. This circle results in waste collection yielding high performance green products with extended lives."