FORT WAYNE, Ind., March 9 (UPI) -- Indiana-based Steel Dynamics Inc. is forming a joint venture to make composite railroad ties. The venture, to be called Dynamic Composites, LLC, will equip and start a factory at a site to be determined that will have the capacity initially to make 250,000 ties per year. The ties will be made under an exclusive license from Primix Corp. of Atwood, Ind.
"North American demand for railroad ties is estimated to range from 15 to 19 million ties per year, a $700- to $800-million market," Steel Dynamics said Thursday in a statement.
"Currently, wood ties comprise an estimated 95 percent of the market, the remainder being concrete, steel, and composite ties. SDI believes there is excellent potential for composite ties to gain a substantial share of this market because of the new product's perceived longer life, operational benefits and cost-effectiveness."
