Houston-based North American Technologies Group, Inc., a producer of composite-based products made from recycled raw materials, has received an order for 1 million of its patented TieTek railroad ties from Omaha, Neb.-based Union Pacific Railroad.
The company valued the six-year order at more than $55 million.
"This order from Union Pacific validates the technical and environmental benefits of our ties and confirms NATK as the leading developer and manufacturer of composite ties," said Henry Sullivan, president and CEO of NATK. "Through our TieTek subsidiary, we have more than 50,000 ties in successful operation with Union Pacific in about 25 locations in 10 states. This new order is especially gratifying and represents the basis for our continued expansion."
NATK will continue to expand its production capacity to meet existing demand as well as terms of the Union Pacific agreement, which runs from January 2003 through December 2008.
TieTek composite ties can be installed interchangeably with wood ties, but last considerably longer and have a lower total cost of ownership in most applications, according to Sullivan. In addition, the TieTek ties are environmentally friendly and have no disposal costs since they are recyclable.Latest from Recycling Today
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