Primix Announces Exclusive North American License
April 04 2006 - 9:00AM
Business Wire
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.
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