WINCHESTER, Va.--(BUSINESS WIRE)--Aug. 21, 2009--
Trex Company, Inc. (NYSE: TWP), the nation’s leading manufacturer and
distributor of wood alternative decking, railing, fencing and trim,
today announced that a notice of redemption has been sent to holders of
all Variable Rate Demand Environmental Improvement Revenue Bonds (Trex
Company, Inc. Project) Series 2004. The bonds, totaling $25 million and
issued by the Mississippi Business Finance Corporation, will be redeemed
on September 15, 2009 at a price of 100% plus accrued interest.
“The redemption of these bonds demonstrates the success we’ve had in
adding liquidity to our business and strengthening Trex’s balance
sheet,” stated President and CEO Ron Kaplan. “Trex’s strong cash flow
and solid financial position are significant advantages in today’s
economic environment.”
About Trex Company
Trex Company is the nation’s largest manufacturer of composite decking,
railing, fencing and trim, with over 15 years of product experience.
Built on “green” principles and values, Trex makes its products from a
unique formulation of reclaimed wood and plastic, combined through a
proprietary process. Trex decking, railing, fencing and trim offer
significant design flexibility with fewer ongoing maintenance
requirements than wood, as well as a truly environmentally responsible
choice. In addition, Trex distributes ultra-low maintenance PVC decking
under the trademark Trex Escapes® and PVC trim under the trademark Trex
Trim™. For more information, visit the Company’s website, www.trex.com.
Trex®, Trex Escapes® and Trex Trim™ are trademarks of Trex Company,
Inc., Winchester, Va.
The statements in this press release regarding the Company's expected
future performance and condition and its business strategy constitute
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934. These statements are subject to risks and uncertainties that could
cause the Company's actual operating results to differ materially. Such
risks and uncertainties include the extent of market acceptance of the
Company's products; the sensitivity of the Company's business to general
economic conditions; the Company's ability to obtain raw materials at
acceptable prices; the Company's ability to maintain product quality and
product performance at an acceptable cost; the level of expenses
associated with product replacement and consumer relations expenses
related to product quality; and the highly competitive markets in which
the Company operates. The Company's report on Form 10-K filed with the
Securities and Exchange Commission on March 12, 2009 and its subsequent
reports on Form 10-Q filed on May 8, 2009 and August 10, 2009 discuss
some of the important factors that could cause the Company's actual
results to differ materially from those expressed or implied in these
forward-looking statements. The Company expressly disclaims any
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.
Source: Trex Company, Inc.
Trex Company, Inc.
James Cline, 540-542-6300
Chief Financial
Officer
or
Lippert/Heilshorn & Associates
Harriet
Fried, 212-838-3777
hfried@lhai.com
