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Trex Company Announces Agreement with The Home Depot
WINCHESTER, Va.--(BUSINESS WIRE)--April 15, 2004--Trex Company, Inc. (NYSE: TWP) today announced that it has entered into an agreement with The Home Depot (NYSE: HD) to begin selling Trex(R) decking products in selected markets. In addition, Trex(R) decking and railing products will be available nationally in Home Depot stores via special order through Trex's existing distribution channels.
Trex Company Chairman and Chief Executive Officer Robert Matheny commented, "Home Depot represents an exciting new opportunity for Trex to expand our distribution channels and reach a whole new set of consumers and contractors. By joining forces with the world's leading home improvement retailer, we believe we can dramatically accelerate the conversion from wood to composite decking and further our goal of establishing Trex(R) as one of the most recognized brands of residential outdoor living products.
"One of Trex's strategies is to reach consumers in ways that complement and enhance our current distribution channel. Through our relationship with Home Depot, Trex will reach the growing number of people in the 'do-it-yourself' category. We look forward to expanding the market for composite decking, increasing our sales and building awareness of Trex(R) through this important new channel of distribution."
About Trex Company
Trex Company is the nation's largest manufacturer of alternative decking, which is marketed under the brand name Trex(R). Trex Wood-Polymer(R) lumber offers an attractive appearance and the workability of wood without the ongoing need for protective sealants or repairs. Trex decking and railing is manufactured in a proprietary process that combines waste wood fibers and reclaimed polyethylene and is used primarily for residential and commercial decking. The Company sells its products through approximately 90 wholesale distribution locations, which in turn sell Trex decking to approximately 3,300 independent contractor-oriented retail lumberyards across the United States.
For more information on Trex(R) decking and railing products, visit www.trex.com. Trex(R) and Trex Wood-Polymer(R) are trademarks of Trex Company, Inc., Winchester, Va.
The statements in this press release regarding the Company's expected sales performance and operating results, its projections of revenues, earnings and costs, its anticipated financial 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 continue to obtain raw materials at acceptable prices, the Company's ability to increase production levels to meet increasing demand for its products, 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 5, 2004 discusses 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.
CONTACT: Trex Company, Inc. Robert G. Matheny, 540-542-6300 Chairman and CEO or Lippert/Heilshorn & Associates Harriet Fried, 212-838-3777 SOURCE: Trex Company, Inc.