Primix (CE) (USOTC:PMXX)
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From Oct 2019 to Oct 2024
Primix Corporation (OTC:PMXX), developer of the "Primix
Tie," is pleased to announce that it has entered into an exclusive
North American and Mexico license agreement with Dynamic Composites,
LLC, which is substantially owned and controlled by Steel Dynamics,
Inc. Under the license agreement, Primix received a license fee for
granting Dynamic Composites the exclusive right to manufacture,
market, and distribute the composite ties throughout North America and
Mexico. Primix will also receive certain royalties based upon the
sales of the composite ties throughout North America and Mexico during
the term of the license agreement. Carl Fischer, President of Primix
Corporation, stated that, "We are proud to entrust Dynamic Composites,
LLC with an exclusive North American and Mexico license for our
composite tie and believe that both have the potential to benefit
under the license agreement. Steel Dynamics, Inc. is a highly
respected and successful domestic steel supplier and our composite tie
fits very well with the product mix to be offered by the structural
and rail division of Steel Dynamics, Inc." Fischer added, "The
financial benefits provided to Primix under the license agreement
should further assist us with efforts to license our composite tie
technology internationally and to move forward with the manufacture
and marketing of the "Primix Tie" in China under our April 2005 Joint
Venture/License Agreement with Qingdao Maple Leaf Environmental
Technologies, Inc."
In addition, the "Primix Tie" has been extensively tested during
in-service trials at the Transportation Technology Center in Pueblo,
Colorado. Primix estimates its composite tie to have a service life of
60 years, compared to a life of 10 to 15 years for creosoted hardwood
ties. Primix also believes that the composite tie offers other
advantages, including greater vibration dampening, which will result
in a smoother ride, less wear on railway equipment, and reduced rail
bed maintenance. Weighing about 50 percent more than traditional
wooden ties, the composite ties can handle heavier railcar loads and
can be installed with wider spacing than the wood counterpart. The
ties further provide better lateral stability, which helps to hold the
gauge of the rail tracks and promote better locomotive fuel
efficiency.
About Primix Corporation:
Founded in 1996, Primix Corporation is the developer of a
revolutionary patented combination composite railroad tie intended to
serve the world railroad market. The combination is a steel reinforced
concrete core encapsulated in a recycled composite shell. Primix
railroad ties are manufactured from recycled high-density polyethylene
and recycled rubber. Their superior design and performance are
projected to be significantly stronger and last significantly longer
than traditional wooden ties. Primix holds patents on its composite
railroad tie in the United States, Australia, and China. Worldwide
patent applications have been filed and are pending in Canada, Mexico,
Brazil, Europe, and Japan. For more information about Primix
Corporation, please visit http://www.primixcorp.net.
Forward Looking Statements:
This statement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, as
amended (the "Act"). In particular, when used in the preceding
statement, the words "interest", "anticipate", "assisting",
"estimates", "projected", "believes", and similar conditional
expressions are intended to identify forward-looking statements within
the meaning of the Act and are subject to the safe harbor created by
the Act. Such statements are subject to certain risks and
uncertainties and actual results could differ materially from those
expressed in any of the forward-looking statements. Investors are
cautioned that all forward-looking statements involve risks and
uncertainties, including, without limitation, industry acceptance of
the Primix composite railroad tie, availability of raw materials,
equipment failures, labor disputes, competition, pricing pressures,
and other risks detailed from time to time in the company's periodic
reports filed with the SEC, other news releases, and publications.