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Report Provides Insight into Leading Manufacturer’s Practices and Priorities
WINCHESTER, Va., June 28, 2021--(BUSINESS WIRE)--Trex Company, Inc. (NYSE:TREX), the world’s #1 brand of composite decking and railing and leader in high-performance, low-maintenance and eco-friendly outdoor living products and a leading national provider of custom-engineered commercial railing systems, today published its 2020 Environmental, Social and Governance (ESG) report. Amid one of the most difficult business environments in recent history, Trex continued advancing its ESG objectives throughout the year. The company’s third annual ESG Report recaps a year of "Building a Better Tomorrow Together" for its customers, employees, communities, investors and the environment.
"Our people answered challenge after challenge — from the health concerns posed by COVID-19 to the demands of an ambitious capacity expansion program — with tireless dedication," President and Chief Executive Officer Bryan Fairbanks said. "Although 2020 was unprecedented in many ways, it also underscored the stability that flows from our strong culture and work ethic in executing against a consistent strategy as well as from our solid transition and succession planning. I’m extremely proud to share so many examples of Trex’s progress toward building a better tomorrow together and thank the Trex organization and its extended family of retailers, dealers, contractors and distributors for their dedication and collaboration."
Achievements highlighted in the 2020 Trex ESG Report include:
Reinforcing Trex’s commitment to environmental sustainability at the core of its products and operations. The company upcycled more than 900 million pounds of plastic film and reclaimed wood — much of which would otherwise have ended up in landfills — to create eco-friendly Trex composite decking and railing products. The company’s entire portfolio of high-performance, low-maintenance decking is manufactured from 95% recycled and reclaimed materials, including reclaimed wood and polyethylene plastic waste from industrial and consumer packaging along with household items such as grocery bags, newspaper sleeves and shrink wrap.
Prioritizing employees’ health and well-being throughout the pandemic. The company’s Crisis Management Team deployed a COVID-19 response plan that helped ensure essential manufacturing operations continued operating under safe conditions. In addition, Trex supported alternative working arrangements and provided flexible time for all employees.
Fostering a culture that upholds the values of diversity, equity and inclusion. In 2020, Trex focused on identifying any unconscious bias in its hiring practices and on reimagining the company’s recruitment advertising to reflect broader ethnic and gender diversity. Trex again reviewed its compensation practices and was pleased to find no gender pay gap. The company will continue to conduct additional pay equity studies across all protected categories.
Growing production capacity sustainably. Trex completed a multi-year, $200 million capital expansion program that will enable the company to keep pace with projected future growth. Along with creating approximately 350 new jobs, the expansion increased production capacity for Trex Residential Products by approximately 70% compared to 2019 levels — enabling the company to divert even higher volumes of recycled plastic and reclaimed wood for use in its products.
Giving back to local communities. In 2020, Trex and its employees collectively invested over $500,000 to support nonprofit organizations and causes including United Way and Feeding America.
"Conducting our business with the highest standards of integrity and making a positive difference in the communities where we operate are hallmarks of Trex’s heritage," Fairbanks noted. "We are excited to keep growing, innovating, and reaching new frontiers on the strength of our ESG commitment."
About Trex Company
Trex Company 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-Size 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. Also, Trex is a leading national provider of custom-engineered railing systems for the commercial and multi-family market, including performing arts venues and sports stadiums. For more information, visit trex.com. You also can follow Trex on Twitter (@Trex_Company), Instagram (@trexcompany), Pinterest (trexcompany), LinkedIn (trex-company), or Houzz (trex-company-inc), "like" Trex on Facebook, or view product and demonstration videos on the brand’s YouTube channel (TheTrexCo).
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Senior Vice President and CFO
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