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First publish date: 05-09-2006
UP Signs Ammendment with TieTek for Composite Ties
TieTek, the national leader in composite crossties and a North American Technologies Group, Inc. subsidiary, announced that the Union Pacific Railroad has signed an amendment to the current sales agreement.
This amendment enables TieTek to adjust prices based on fluctuations in its raw material prices.
"TieTek continues to show that composite crossties can be a viable business delivering quality products that demonstrate compelling value for their customers," said Donald Holfeld Director, Field Engineering at ZETA-TECH Associates, Inc.
TieTek raised additional funds in January 2006, brought in a new CEO, optimized its operational processes and focused on exceeding customer expectations for crosstie quality and delivery.
"This agreement helps mitigate TieTek from raw material price fluctuations," said NATK and TieTek CEO, Neal Kaufman. "Working with our customers to deliver our high-quality products with a path to TieTek profitability is the key to our success."