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TREX COMPANY, INC.

(TREX)
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Trex : Hits the Nail on the Head With New Product Innovation

09/15/2021 | 09:03am EDT

WINCHESTER, Va., Sept. 15, 2021 (GLOBE NEWSWIRE) -- The same commitment to innovation that drove Trex to invent composite decking nearly 30 years ago continues to be a driving force behind the company’s category and industry leadership. Adding to its long list of product innovation credits and accolades, the company has been honored with a 2021 Golden Hammer Award by Hardware + Building Supply (HBS) Dealer magazine for the recently released Trex® Universal Fastener Installation Tool. Designed to help building professionals optimize both time and cost efficiency, the handy device increases application ease and accuracy while reducing installation time by up to 50%.

“Receiving a Golden Hammer Award is always rewarding because it recognizes products that bring ingenuity and new levels of excellence to the building industry,” said Leslie Adkins, vice president of marketing for Trex. “In the case of our Universal Fastener Installation Tool, we share credit with our valued TrexPro contractors who provided input that inspired the award-winning design. It’s an ingenious, yet simple and inexpensive tool that makes it easier and faster to install decking with hidden fasteners and should be in every deck builder’s toolbox.”

Created with both professionals and DIYers in mind, the Trex Universal Fastener Installation Tool cuts installation time in half by allowing the installer to properly activate hidden fasteners in one easy step. The specially designed nose cone ensures the bit hits the fastener head at just the right drive angle, enabling installers to fully tighten each clip and easily slide the next board into place. Lightweight and durable, the tool also features a rotatable handle that allows for both pushing and pulling from a variety of angles, along with a handy bit holder on the underside.

When compared to alternative installation methods, this inexpensive tool is a tremendous value for installers of any skill level. Available through participating Trex distributors, dealers and online retailers, the Trex Universal Fastener Installation Tool retails for approximately $23, making it an affordable deck building essential.

Since 1984, HBS Dealer has bestowed Golden Hammer Awards to companies and products exemplifying the gold standard in home improvement. Winners are determined by the magazine’s editorial staff based on product innovation, overall value and shelf appeal. The full list of 2021 winners will be featured in the September issue and posted online at www.hbsdealer.com.

For more information about the Trex Universal Fastener Installation Tool and other Trex product innovations, visit www.trex.com.

About Trex Company, Inc.
Trex Company, Inc. [NYSE: TREX] is the world’s largest manufacturer of high performance wood-alternative decking and railing, with nearly 30 years of product experience. The #1 brand in outdoor living is proud to be named to Fortune magazine’s 2020 list of the world’s 100 Fastest-Growing Companies and to Forbes’ 2021 List of America’s Best Mid-Sized Companies. Stocked in more than 6,700 retail locations worldwide, Trex outdoor living products offer a wide range of style options with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. For more information, visit trex.com. You also can follow Trex on Twitter (@Trex_Company), Instagram (@trexcompany), Pinterest (trexcompany) or Houzz (trexcompany-inc), “like” Trex on Facebook (@TrexCompany) or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).

Contact: Corinne Racine
L.C. Williams & Associates
312-565-4615
cracine@lcwa.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/18e78691-46b5-451f-9220-fb1778de3060


Primary Logo

Trex Universal Fastener Installation Tool

Designed to help building professionals optimize both time and cost efficiency, the handy device increases application ease and accuracy while reducing installation time by up to 50%.
Source: Trex Company, Inc

2021 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2021 1 161 M - -
Net income 2021 236 M - -
Net cash 2021 149 M - -
P/E ratio 2021 48,0x
Yield 2021 -
Capitalization 11 305 M 11 305 M -
EV / Sales 2021 9,61x
EV / Sales 2022 8,34x
Nbr of Employees 1 719
Free-Float 81,6%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 98,01 $
Average target price 113,71 $
Spread / Average Target 16,0%
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Managers and Directors
Bryan Horix Fairbanks President, Chief Executive Officer & Director
Dennis Charles Schemm Chief Financial Officer & Senior Vice President
James E. Cline Chairman
Patricia B. Robinson Lead Independent Director
Jay M. Gratz Independent Director
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