WINCHESTER, VA. — Trex Company was named to Fortune Magazine’s 2020 list of the 100 fastest-growing companies worldwide. Trex captured spot #57 and was the highest-ranked building materials manufacturer on this year’s list, the company announced in a press release.
“We are honored to be recognized by Fortune as one of the fastest-growing public companies in 2020 and inspired to continue enhancing the lives of people by engineering what’s next in outdoor living,” said Bryan Fairbanks, president and CEO of Trex Company. “Since Trex’s inception, we’ve developed and nurtured long-standing relationships with the top specialty material distributors, pro channel dealers and DIY retailers, making Trex the most widely available and purchased brand throughout North America and increasingly around the world. We continue to focus on ensuring these channel partners grow alongside Trex as we invest in our brand and deliver market-leading products that meet the needs of homeowners seeking to improve their outdoor living spaces.”
Trex was founded in the mid-1990s and today, the entire Trex decking portfolio is made from a minimum of 95% recycled material that repurposes more than 800 million pounds of recycled plastic and reclaimed wood fiber annually.
“This accolade is especially meaningful to us because it demonstrates that a company can build a successful business model based on recycled materials and ingenious design,” noted Fairbanks. “As proud as I am about our outstanding growth, I am even more excited about our strategic initiative to accelerate the conversion from wood decking to sustainable Trex composite decking—raising the bar for product performance and aesthetics—as well as environmental responsibility.”
Fortune measures and ranks the top-performing companies over three years based on revenues, profits and stock returns. Because the methodology evaluates companies over a three-year period, the bulk of the performance results that drove this year’s rankings were accumulated before COVID-19 began affecting the global economy. Trex, however, has continued to grow despite and throughout the pandemic recently reporting a 19% YOY increase in consolidated net sales for Q3 2020, the company announced.