With summer in the air and the outdoors calling, with barbecues and cocktail parties dotting backyards coast to coast, the appeal of decks is great. So why not build them with longer-lasting material, synthetic wood that won’t splinter, that’s easy to clean? That’s been the business model for deck-maker Trex a long time, and the company has been very successful over the past 10 years after pulling off an epic turnaround.
Trex is one of those niche companies that has been on the scene for a while and dominates its field. The company belongs to an august, if seldom-celebrated, group with members like H.B. Fuller (industrial adhesives manufacturer), Xylem (water and sewage equipment maker) and Iridium (worldwide voice and data satellite provider). Like them, Trex needed a revamp to boost sales and increase its prospects.
This is a tale of taking a good idea that had floundered in the marketplace and making that concept a force. Founded in 1996, Trex pioneered synthetic decks—where stuff like plastic and sawdust is made into boards. Turns out that composite wood is a great invention, which taps into the burgeoning American desire for outdoor living, spending time in the backyard with all the comforts of indoors.
The composite material is touted as superior to traditional wooden decking because it is resistant to weather, needs less maintenance and is stain-proof. Spill a glass of red wine on a traditional wooden deck and you’ll have trouble getting rid of the dark smudge. With a Trex deck, you can wipe up the blemish with a wet paper towel and the surface is as good as new. Natural decking tends to splinter over time; composites don’t.
Unfortunately, Trex at the outset had quality-control issues with its manufacturing. So in 2008, the company hired Ron Kaplan, a veteran of Harsco, an industrial services company, to be the new CEO. After canning the top executives, he brought in Jim Cline from Harsco to be Trex’s new chief financial officer.
Source: https://bit.ly/2XpnzEN
