UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 21, 2009
TREX COMPANY, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-14649 | 54-1910453 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 160 Exeter Drive Winchester, Virginia |
22603-8605 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: (540) 542-6300
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 8.01. | Other Events |
On August 12, 2009, a notice of redemption was 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 Company’s press release regarding the redemption of the bonds is attached hereto as Exhibit 99.1 and incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Trex Company, Inc. herewith files the following exhibits:
| Exhibit |
Description of Exhibit | |
| 99.1 |
Press Release issued by Trex Company, Inc. FILED HEREWITH. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TREX COMPANY, INC. | ||
| Date: August 21, 2009 | /s/ James E. Cline | |
| James E. Cline | ||
| Chief Financial Officer | ||
Exhibit 99.1
| NEWS RELEASE FOR IMMEDIATE RELEASE |
Contacts: James Cline Chief Financial Officer 540-542-6300
Harriet Fried Lippert/Heilshorn & Associates 212-838-3777 hfried@lhai.com |
TREX COMPANY ANNOUNCES REDEMPTION OF VARIABLE RATE DEMAND
ENVIRONMENTAL IMPROVEMENT REVENUE BONDS
WINCHESTER, Va. – August 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.