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COMING INTO FOCUS: Ongweoweh Places $300 Million Gamble on Composite Pallet
In what is a major rollout of a national composite pallet program, Ongweoweh Corp. of Ithaca, N.Y. has placed an order to purchase $300 million worth of composite pallets.
Date Posted: 9/1/2012
In what is a major rollout of a national composite pallet program, Ongweoweh Corp. of Ithaca, N.Y. has placed an order to purchase $300 million worth of composite pallets and related tracking technology over the next five years from Axios Mobile Assets Corp. Ongweoweh is a national pallet management and brokerage firm that serves some of the biggest companies in the country. It uses proprietary tracking and transaction software in conjunction with a national network of local pallet depots to manage private and public pallet programs.
Ongweoweh, which has been conducting trials with Axios pallets for the past 18 months, is the first in the industry to offer this exclusive solution to the marketplace. Axios made news earlier this summer by being the first pallet company to tout its pallet solution as a way to save money using carbon credits.
Richard MacDonald, Axios president and CEO, said, “The significant volume order mitigates risk for large-scale adoption by retailers and manufacturers and positions the platform as a viable alternative to current poolers and pallet management companies.”
David Wickwire, executive vice president and CFO of Ongweoweh, said, “Axios came to us with a full solution, not just a pallet.” The Axios pallet system includes a lightweight pallet, tracking software, and an RFID tag process for calculating carbon credits and data processing capabilities.