Trex Completes Financing

Trex Company, Inc. has closed on a $25 million financing, the proceeds of which will be used to fund a portion of the construction and equipment costs associated with the company's new manufacturing plant, located in Olive Branch, Miss. The plant, Trex's third manufacturing facility, will initially supplement existing operations by serving markets in the Midwest and South.

Production at the plant is anticipated to begin by the middle of next year.

Robert Matheny, Trex’s chairman and CEO, said, "We are very pleased with the progress of our Olive Branch plant. The site, which has excellent access to raw materials and offers many distribution advantages, will provide the additional capacity we need to fulfill consumers' growing demand for Trex's decking and railing products."

Trex converts millions of pounds of recycled and reclaimed plastic and waste wood each year into Trex decking. 

Most of these raw materials come from recycled plastic grocery bags, reclaimed pallet wrap and waste wood.   

The company purchases about 300 million pounds of used polyethylene and an equal amount of hardwood sawdust each year.