Trex Company sells its Commercial Products Business

Trex Company, Inc., the world’s leading manufacturer of high-performance, low-maintenance, and environmentally friendly composite decking, railing, and outdoor living products, announced the sale of substantially all of the assets of its wholly-owned subsidiary, Trex Commercial Products, Inc., to Sightline Commercial Solutions, LLC of Minnesota.

The specifics of this transaction will be disclosed in Trex’s Current Report on Form 8-K, which will be filed with the US Securities and Exchange Commission.

President and CEO Bryan Fairbanks said, “During our ownership of Trex Commercial, its products were installed in some of the largest and most prestigious sporting and entertainment venues in the country. Trex Commercial was also instrumental in helping the Company capitalize on the growing trend toward more modern, commercially inspired railing designs with the launch of our successful rod rail system, the new glass railing system and numerous other innovations that will drive future value for Trex. I am pleased to report that current Trex Commercial staff will be offered employment at the new company.”

Trex Commercial’s assets were sold on December 30, 2022. The Trex Commercial sector had sales of $35.1 million for the nine months ended September 30, 2022, accounting for 3.8% of the Company’s consolidated net sales, and experienced a net loss of $2.4 million.

“The divestiture of the Trex Commercial segment reflects our decision to focus on driving the most profitable growth strategy for Trex and its shareholders through the execution of our outdoor living strategy. With the sale complete, we will dedicate our resources to accelerating conversion to composites from wood and further strengthen our leadership position in the outdoor living category,” continued Fairbanks.