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Trex Company, Inc.

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Trex Company, Inc.
Company typePublic
IndustryIndustrials
FoundedAugust 1996; 28 years ago (1996-08)
HeadquartersWinchester, Virginia, U.S.
Area served
United States, International
Key people
Bryan H. Fairbanks
(president and CEO)[1] James E. Cline
(Chairman of the Board)[1]
Productsdecking, railing
RevenueDecrease US$ 1.1 billion (2023)[2][3]
Increase US$ 276 million (2023)[2][3]
Increase US$ 205 million (2023)[2][3]
Total assetsDecrease US$ 932,885 (2023)[4][3]
Number of employees
1,765 (December 31, 2023)[5][3]
Websitetrex.com

Trex Company, Inc. is a manufacturer of wood-alternative composite decking, railing, and other outdoor items made from recycled materials.[6] Headquartered in Winchester, Virginia, Trex is the world's largest manufacturer of wood-alternative decking and railing.[7] Trex composite products are made of 95% recycled materials. In redirecting more than 400 million pounds of plastic and scrap wood from landfills each year, Trex is one of the largest plastic film recyclers in the US.[8]

Company history

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In 1988, Roger Wittenberg combined sawdust and plastic bags to create a park bench.[7] In 1996, Mobil Chemical Co. acquired Wittenberg's technology and formed Trex, LLC.[7] Trex is widely considered to be one of the inventors of composite decking made from recyclable materials.[9] The idea for a process and product created to maximize the use of materials that would otherwise wind up in landfills is credited to inventors Kjell-Ake Gustafsson, of Binghamton, New York; John J. Muller, of Winchester, Virginia; and Roger A. Wittenberg of Newton, Pennsylvania.[10] The first patent for a "Method of Producing a Wood-Thermoplastic Composite Material" was filed as U.S. Patent number 5746958 in March 1995 and granted in May 1998.[10]

Trex composite decking

Leadership

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Bryan H. Fairbanks was named president and CEO of Trex effective April 29, 2020.[11] Former president and CEO (2015-2020), James E. Cline, has assumed the position of chairman of the board.[11] Dennis C. Schemm was named vice president and CFO[12] and Ronald W. Kaplan is now vice chairman effective April 29, 2020.[11]

Manufacturing

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Trex is America's largest manufacturer of composite decking.[13] Their manufacturing process combines recycled plastic film, like grocery bags and dry cleaning wrap, with reclaimed wood, some of which is swept from the floors of furniture factories.[13] To procure the amount of plastic film necessary for production, Trex works with grocery store chains like Albertsons, which has contributed more than 200 million pounds of recycled plastic film to the NexTrex recycling program.[14] Trex uses approximately 400 million pounds of recycled plastic film to make its composite decking.[14] Trex maintains two manufacturing facilities in Winchester, Virginia, and Fernley, Nevada.[15]

Environmental considerations

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Trex promotes an environmental stance as part of its commercial appeal in the marketplace.[16]

Recycled components

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Trex composite decking contains more than 95% recycled content and offers verification by ICC-ES.[17] In July 2010 Trex received a Verification of Attributes Report (VAR-1011) from the International Code Council Evaluation Service (ICC-ES) under the Sustainable Attributes Verification and Evaluation Program. The verification validates Trex's wood-alternative products are manufactured with a minimum of 95.4% recycled content. Trex claims is the first composite decking manufacturer to obtain this certification.[17]

Environmental recognition

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Trex corporate participation in environmental efforts, coupled with its eco-friendly product profile, has led to recognition by governments, publications and trade groups. Trex has expanded production and failed to mitigate the noise pollution it produces and impacts neighbors in a broad residential area.[18]

These include:

  • Winner, "Greenest Decking," 2019, Green Builder Media.[19]
  • Eco Leader Award, 2019, Green Builder Media.[20]
  • Readers' Choice Award, 2015 & 2016, Green Builder magazine.[21]
  • Winner, 2016 GAIA award.[22]

Industry recognition

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  • America's Best Mid-Sized Companies, 2021, Forbes.[23]
  • Top Brand, 2017 & 2019 Builder Brand Use Study.[24][25]
  • Best of Houzz Design Award, 2017, Houzz.com.[26]
  • Top Brand: all four composite/PVC subcategories, 2016, Builder Brand Use Study.[27]
  • Gold Award, Social Media Communications, 2016, Publicity Club of Chicago.[28]
  • Best of Houzz Design Award, 2016, Houzz.com.[29]
  • Platinum (x3), Gold (x3) Awards for Design Excellence, 2015, ADEX.[30]
  • Best Decking (Platinum List), 2015, Ocean Home Magazine.[31]
  • Eight awards, 2015, Remodeling Magazine's Brand Use Study.[32]

Product issues

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A manufacturing problem at the Trex manufacturing facility in Fernley, Nevada, from 2002 to 2007 led to production of decking boards that were prone to surface flaking. These boards were sold throughout 16 Western states in the U.S. and resulted in a class-action suit against the company.[33] In a settlement approved in 2010, Trex agreed to replace any decking boards, including some resulting labor costs, for decking affected by surface flaking.[33]

References

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  1. ^ a b "Trex Company Announces Succession Plan". Business Wire. 24 February 2020. Retrieved 6 May 2020.
  2. ^ a b c "Trex Company (TREX) Financials - Income Statement". Stock Analysis. Retrieved 17 November 2024.
  3. ^ a b c d e "2023 Annual Report to Stockholders" (PDF). Trex. 26 February 2024. Retrieved 17 November 2024.
  4. ^ "Trex Company (TREX) Balance Sheet". Stock Analysis. Retrieved 17 November 2024.
  5. ^ "Trex Company, Inc. (TREX) Company Profile". Stock Analysis. Retrieved 17 November 2024.
  6. ^ Harrison, J.D. "Not-real-wood company Trex posts a very real earnings bump". Washington Post. Retrieved 26 March 2015.
  7. ^ a b c "5 Russell 2000 Stocks That Have Crushed the Index in 2020". Yahoo! Finance. Verizon Media. 23 December 2020. Retrieved 20 January 2021.
  8. ^ "Trex". Northeast Recycling Council. Retrieved 2021-02-23.
  9. ^ "Product of the Month: Composite Decking". Natural Element Houses. Retrieved 18 September 2013.
  10. ^ a b "Method of producing a wood-thermoplastic composite material". United States Patent. USPTO Patent Full-Text and Image Database.
  11. ^ a b c "Trex Company Announces Succession Plan". www.businesswire.com. 2020-02-24. Retrieved 2020-05-06.
  12. ^ "Trex Company Names Dennis Schemm Vice President and Chief Financial Officer". www.businesswire.com. 2020-04-20. Retrieved 2020-05-06.
  13. ^ a b Tully, Shawn (May 29, 2021). "Insane lumber prices are supercharging Trex's composite wood business—and making it a top-performing stock". Fortune.
  14. ^ a b Building Products Digest (15 November 2020). "Trex Teams up with Albertsons to Keep Plastic out of Landfill". 526 Media Group. Retrieved 17 November 2024.
  15. ^ Kavanaugh, Catherine (June 6, 2019). "Deck maker Trex investing $200M at two US sites". Plastics News.
  16. ^ Roach, John (September 2, 2003). "Are Plastic Grocery Bags Sacking the Environment?". National Geographic News. National Geographic. Archived from the original on October 8, 2003. Retrieved 14 October 2013.
  17. ^ a b "Introducing "NexTrex™": Composite Decking Leader Announces New Name For Successful Retail Recycling Program". GlobalNewswire (Press release). 22 April 2019. Retrieved 6 December 2019.
  18. ^ "Open Forum: Trex is still noisy a year later". 4 October 2022.
  19. ^ Media, Green Builder. "2019 Readers' Choice Awards - A Sustainable Brands Survey". www.greenbuildermedia.com. Retrieved 2019-12-06.
  20. ^ Media, Green Builder (28 July 2019). "Green Builder Media's 2019 Eco-Leaders". www.greenbuildermedia.com. Retrieved 2019-12-06.
  21. ^ "2016 Reader Choice Awards". Green Builder. Retrieved 8 April 2016.
  22. ^ "GAIA Awards 2014 Winners". GAIA. Retrieved 8 April 2016.
  23. ^ "America's Best Mid-Sized Companies 2021". Forbes. Retrieved 2021-02-23.
  24. ^ 2017 BUILDER BRAND USE STUDY RESULTS
  25. ^ "2019 BUILDER BRAND USE STUDY RESULTS". www.builderonline.com. Retrieved 2019-12-06.
  26. ^ "Best of Houzz Award Winners". www.houzz.com. Retrieved 28 January 2019.
  27. ^ "2016 Builder Brand Use Study Results | Builder Magazine".
  28. ^ "Four LCWA Campaigns Honored at Publicity Club of Chicago Golden Trumpet Awards". Retrieved 28 January 2019.
  29. ^ "Best of Houzz Award Winners". www.houzz.com. Retrieved 28 January 2019.
  30. ^ "Trex Company". ADEX Awards. Retrieved 8 April 2016.
  31. ^ "Golden Hammer Update: Decking honors". HBS Dealer. Retrieved 8 April 2016.
  32. ^ "Brand Use Study" (PDF). Remodeling. Retrieved 8 April 2016.
  33. ^ a b Trex Company (9 July 2013). "Trex Company Reminds Consumers of Replacement Program for Defective Decking Manufactured between 2002 and 2007 for Sale in the Western United States" (Press release). PR Newswire. Retrieved 17 November 2024.
  • "Pool Decks". Professional pool Deck builder. Retrieved 19 March 2005.
[edit]
  • Official website Edit this at Wikidata
  • Business data for Trex:
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