SOURCE: Axios Mobile Assets Corp
VAUGHAN, ON--(Marketwire - Aug 15, 2012) - Axios Mobile Assets Corporation (CNSX: AXA) today received a purchase order for the first 20 percent of Axios' first year requirements as part of a blanket order for its recently announced five-year $300 million (USD) contract with Ongweoweh Corporation. Axios will begin shipments of its next generation, composite pallet and technology platform to Ongweoweh in October and complete shipments for the order by December 31, 2012.
"This purchase order supports our long-term manufacturing and production plans and serves as further industry acceptance for large-scale adoption of Axios' pallet and technology platform within the logistics community," said Richard MacDonald, Axios president and chief executive officer. "Our production strategy is well underway and we'll be working closely with Ongweoweh as we introduce the Axios solution to the marketplace."
"At Ongweoweh, we're pleased with Axios' progress towards full production and look forward to being the first in the industry to add the Axios platform for our clients' logistics solutions," said Dave Wickwire, executive vice president and chief financial officer of Ongweoweh.
This purchase order solidifies Axios' large-scale manufacturing plans for its pallet and technology platform, and further positions Axios for additional contracts with retailers and manufacturers in the supply chain. The Axios solution is ideal for both open- or closed-loop environments and complements asset-based, third party logistics providers that wish to differentiate themselves in the marketplace.
About Axios Mobile Assets
Axios Mobile Assets Corp. is a logistics enabler, featuring next generation, composite pallet technology, which can be bundled with its proprietary tracking and information system that helps improve the value chain in the logistics market. The Axios bundled offering is gaining market acceptance based on its unique attributes: lower total cost, longer useful life, customized configurations and a revenue stream through carbon credit generation, monitoring and the monetizing of carbon emissions reductions. Axios was incorporated under the Business Corporations Act (Ontario) and is a reporting issuer in the Province of Ontario. Axios is traded on the Canadian National Stock Exchange (CNSX) under the symbol AXA.
Further information about the company can be found at www.axiosma.com, www.sedar.com and www.cnsx.ca.
About Ongweoweh Corporation
Established in 1978, Ongweoweh Corp., a Certified Minority Business Enterprise, is a full service, sustainable pallet procurement management organization that serves public and privately-owned companies across North America. Ongweoweh utilizes industry-approved logistics software to enable the 30 million pallets the company services each year to be tracked using real-time monitoring. Ongweoweh's unique service approach, including its 500+ service and product partners, reduces overall costs for its clients by ensuring safe delivery of assets and enabling pallets to be recovered, reused and recycled through its reverse logistics program. Ongweoweh belongs to the National Minority Supplier Diversity Council (NMSDC) and the Sustainable Packaging Coalition (SPC).
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report and the documents that we incorporate by reference, are forward-looking statements and can generally be identified by words such as "will," "allow," "outlook," or the negative of these terms, and other comparable terminology. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements, such as whether Axios and the pallet management company are able to agree on the terms of a definitive supply agreement, and whether Axios is able to meet price, performance, quality and delivery requirements. Axios undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.