Trex Company, Inc. announced the sale of substantially all of the assets of its wholly-owned subsidiary, Trex Commercial Products, Inc. to Minnesota-based Sightline Commercial Solutions, LLC. The details of this transaction will be filed in Trex’s Current Report on Form 8-K with the U.S. Securities and Exchange Commission.
Bryan Fairbanks, President and CEO, commented, “The divestiture of the Trex Commercial segment reflects our decision to focus on driving the most profitable growth strategy for Trex and its shareholders through the execution of our outdoor living strategy. With the sale complete, we will dedicate our resources to accelerating conversion to composites from wood and further strengthen our leadership position in the outdoor living category.”
The sale of Trex Commercial’s assets closed on December 30, 2022. For the nine months ended September 30, 2022, the Trex Commercial segment had sales of $35.1 million, 3.8% of the Company’s consolidated net sales, and incurred a net loss of $2.4 million.
Trex Company is the world’s largest manufacturer of high-performance, wood-alternative decking and railing.
