-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NXg23RBSZyuVVeoJEeiXkzUHy1s9qIrAGLnKUvZyz44NVjx4fVXhUfe9f5BAI3rj jijKVJEUVf8cfCeCgKEJQA== 0001193125-09-160962.txt : 20090731 0001193125-09-160962.hdr.sgml : 20090731 20090731172746 ACCESSION NUMBER: 0001193125-09-160962 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20090730 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090731 DATE AS OF CHANGE: 20090731 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TREX CO INC CENTRAL INDEX KEY: 0001069878 STANDARD INDUSTRIAL CLASSIFICATION: LUMBER & WOOD PRODUCTS (NO FURNITURE) [2400] IRS NUMBER: 541910453 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14649 FILM NUMBER: 09978306 BUSINESS ADDRESS: STREET 1: 160 EXETER DRIVE CITY: WINCHESTER STATE: VA ZIP: 22603-8605 BUSINESS PHONE: 5405426300 MAIL ADDRESS: STREET 1: 160 EXETER DRIVE CITY: WINCHESTER STATE: VA ZIP: 22603-8605 8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 30, 2009

 

 

TREX COMPANY, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001-14649   54-1910453

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

 

160 Exeter Drive

Winchester, Virginia

  22603-8605
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (540) 542-6300

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 8.01. Other Events

On July 30, 2009, the United States District Court for the Northern District of California granted preliminary approval of a settlement of a class action lawsuit filed on January 19, 2009 by various law firms on behalf of Eric Ross and Bradley Hureth. A press release describing such settlement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01 Financial Statements and Exhibits.

(d) Trex Company, Inc. herewith files the following exhibits:

 

Exhibit

 

Description of Exhibit

99.1

 

Press Release issued by Trex Company, Inc. FILED HEREWITH.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  TREX COMPANY, INC.
Date: July 31, 2009  

/s/ James E. Cline

  James E. Cline
  Chief Financial Officer

 

2

EX-99.1 2 dex991.htm PRESS RELEASE Press Release

Exhibit 99.1

LOGO

 

NEWS RELEASE

FOR IMMEDIATE RELEASE

 

Contacts:

Heather Hahn or Allison Kurtz (Media)

L.C. Williams & Associates

800/837-7123 or 312/565-3900

hhahn@lcwa.com or akurtz@lcwa.com

 

Harriet Fried (Investors)

Lippert/Heilshorn & Associates

212-838-3777

hfried@lhai.com

TREX COMPANY SETTLES CLASS ACTION LAWSUIT

WINCHESTER, Va. – (BUSINESS WIRE) – July 31, 2009 – Trex Company, Inc. (NYSE: TWP), the nation’s leading manufacturer and distributor of wood alternative decking, railing, fencing and trim, announced today that it has entered into a Settlement Agreement that will resolve a class action suit filed in California by a group of plaintiffs’ class action law firms alleging certain product defects. The settlement was preliminarily approved by the U.S. District Court for the Northern District of California on July 30, 2009. The Court has set a hearing for final approval on October 30, 2009.

In this suit, two customers of Trex decking product alleged that their decks suffered from surface flaking and that Trex failed to provide adequate remedies. In 2007, Trex fully and publicly disclosed that a manufacturing problem affected a small percentage of product manufactured in its Fernley, Nevada plant beginning in 2003. This issue was entirely isolated to parts of the West Coast, only affected a small percentage of Trex decking materials produced in the Nevada plant, and has since been remediated.

Under the settlement, Trex will continue to fully honor its warranty by replacing product, and also will provide partial reimbursement of labor expenses to affected consumers, the amount of which will be dependent on the size of the deck. The claim resolution process is described in the Settlement Agreement and class notice.

Ronald Kaplan, president and CEO of Trex Company, stated, “Our decision to settle the case is not an admission of any of the allegations made by the plaintiffs but rather a way to avoid expensive and time-consuming litigation. Trex has steadfastly stood behind our warranty with respect to all affected product. Although we were fully prepared to defend this action and we strongly believe we would have prevailed, we were offered the opportunity to settle on terms that we feel are a win-win for both Trex and our consumers.”

Mr. Kaplan added, “Trex always has prided itself on customer service. Although the product defect only affected a small percentage of our product, we regret when any Trex customer has a less than fully satisfactory experience with our product. We believe that under these circumstances, providing partial labor reimbursement and going above and beyond our warranty obligations is a fair and reasonable settlement of this lawsuit. This settlement will allow our company to quickly and efficiently remove this distraction and continue to focus on delivering our award-winning products and high-quality service to our customers.”


Jonathan D. Selbin, a partner at Leift, Cabraser, Heimann & Bernstein, LLP, one of the co-lead counsel for the plaintiffs, stated, “We commend Trex for stepping up to the plate and resolving the surface flaking dispute.”

About Trex Company

Trex Company is the nation’s largest manufacturer of composite decking, railing, fencing and trim, with over 15 years of product experience. Built on “green” principles and values, Trex makes its products from a unique formulation of reclaimed wood and plastic, combined through a proprietary process. Trex decking, railing, fencing and trim offer significant design flexibility with fewer ongoing maintenance requirements than wood, as well as a truly environmentally responsible choice. In addition, Trex distributes ultra-low maintenance PVC decking under the trademark Trex Escapes® and PVC trim under the trademark Trex Trim™. For more information, visit the Company’s website, www.trex.com. Trex®, Trex Escapes® and Trex Trim™ are trademarks of Trex Company, Inc., Winchester, Va.

The statements in this press release regarding the Company’s expected future performance and condition and its business strategy constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company’s actual operating results to differ materially. Such risks and uncertainties include the extent of market acceptance of the Company’s products; the sensitivity of the Company’s business to general economic conditions; the Company’s ability to obtain raw materials at acceptable prices; the Company’s ability to maintain product quality and product performance at an acceptable cost; the level of expenses associated with product replacement and consumer relations expenses related to product quality; and the highly competitive markets in which the Company operates. The Company’s report on Form 10-K filed with the Securities and Exchange Commission on March 12, 2009 and its subsequent report on Form 10-Q filed on May 8, 2009 discuss some of the important factors that could cause the Company’s actual results to differ materially from those expressed or implied in these forward-looking statements. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Trex Company

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