SOURCE: Axiom Corp.

March 18, 2015 06:00 ET

PaperNuts Corporation Completes Agreement for Exclusive Manufacturing of Next Generation PaperNuts Converter

ST. CATHARINES, ON--(Marketwired - Mar 18, 2015) - Axiom Corp. (OTC PINK: AXMM) ("Axiom" or the "Company") is pleased to announce that PaperNuts Corporation, the Company's majority-owned subsidiary, has completed an agreement for the exclusive manufacturing of the next generation of PaperNuts technology. 

As per terms and conditions set forth in the Agreement dated March 17, 2015 between PaperNuts Corporation and Mr. Don Girotti, President of Girotti Machine, PaperNuts has agreed to an exclusive manufacturing and purchase arrangement regarding the first 1,000 industrial-sized 4th generation PaperNuts Converters.

"Don Girotti and the rest of the Girotti Machine team have been instrumental to our development of the latest generation of industrial-sized PaperNuts Converters and its many improvements," stated Tyler Pearson, PaperNuts CEO. "Their engineering talents and solid reputation as a world-class manufacturer of industrial-quality heavy equipment make them an ideal manufacturing partner as we prepare to ramp up a more aggressive sales and marketing strategy within the distribution and fulfillment vertical."

"We have been very fortunate to have an outstanding manufacturing partner like Girotti Machine located so close to our headquarters in St. Catharines, Canada. Not only does this allow PaperNuts to continue supporting a renowned local business, but even more importantly we are optimistic that our agreement with Girotti will allow us to secure our manufacturing costs while maintaining the highest level of quality control."

Founded in 1946, family-owned and operated Girotti Machine has grown into one of southern Ontario's premier large machinery repair and fabrication facilities serving a large customer base across Canada and the United States. With over 65 years of experience in nearly every aspect of machining, machine repair, fabrication, and welding, Girotti has built a strong reputation for being the "go-to experts" when it comes to manufacturing, installing, testing and maintaining a wide variety of machinery and parts. Girotti Machine is ISO 9001 and Z299 certified, and has managed numerous fabrications for customers in a wide variety of sectors, including oil and gas, nuclear power generation, paper, steel, textiles, printing, and automotive.

PaperNuts Corporation and Girotti Machine are nearing completion of final quality testing of the latest generation of PaperNuts technology. The 4th generation of PaperNuts Converter includes numerous innovations that have made the equipment smaller, quieter, more energy efficient, and easier to use. Initial manufacturing of the 4th generation PaperNuts Converter is expected to commence within the next 30 days following the final conclusion of current testing. 

Pearson concluded, "With Girotti Machine onboard as our expert manufacturing partner for the first 1,000 industrial sized 4th generation PaperNuts Converters, the entire PaperNuts team can focus more of its attention towards successfully rolling out our expanded marketing strategy and opening up potential new distribution channels." 

About Axiom Corp.

Axiom Corp., operating through its majority owned subsidiary, PaperNuts Corporation, is a global focused developer and marketer of innovative and environmentally friendly packaging solutions. PaperNuts Corporation owns proprietary technology and intellectual property originally developed in Finland that provides an environmentally friendly alternative to traditional protective packaging options that are often very harmful to the environment. PaperNuts delivers a loose-fill packaging solution that competes directly with polystyrene foam plastic "peanut" fillers, bubble wrap, air pillows, crumpled paper, foam-in-place, and corn starch peanut products. 

PaperNuts are a cost-effective green alternative to competitive fillers, made from 100% recycled paper that was destined for landfill, and are both biodegradable and fully recyclable after use. PaperNuts also provide superior product protection, are clean and easy to handle, non-polluting, and low in particulates. The "PaperNuts Converter" machine used to create PaperNuts requires only 10 sq. ft. of floor space to operate and gives small, medium, and large scale businesses the capability to produce on-demand on-site packaging that reduces the shipping and storage costs associated with competitive products.

For additional information regarding Axiom Corp. and PaperNuts Corporation, visit www.axiompaper.com.

Disclaimer/Safe Harbor: This Axiom Corp. / PaperNuts Corporation news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company's ability to raise sufficient development and working capital, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all.

Contact Information

  • Investor/Media Contact:

    Axiom Corp. / PaperNuts Corporation - Investor Relations
    Toll-Free: (888) 694-1999
    E-mail: Email Contact
    Website: www.axiompaper.com