雅虎香港財經 TREX Partners Paragon Stairs, Boosts Spiral Stairs Collection
Trex Company, Inc. TREX has entered into a strategic partnership with Paragon Stairs, with the latter being the exclusive supplier for its Trex Spiral Stairs collection.
Under the partnership, Paragon will supply two modular systems, Vista Spiral Stair and Summit Spiral Stair, for the Trex Spiral Stairs collection. These two models are specifically designed to pair perfectly with Trex decking and railing, highlighting a modern and sophisticated look along with emphasizing functionality and longevity. Paragon will also offer a free consultation with a design expert, prior to the installation process.
Furthermore, the two models can undergo more than 5,000 possible customizations and the visitors to the Trex Spiral Stairs online platform can also build their own set of spiral stairs using the user-friendly online configurator.
TREX is optimistic about this new partnership with Paragon as it believes this new addition will enhance its already existing product line and increase customer value, thus fostering its prospects in the upcoming period.
Product Portfolio Development Bodes Well
Trex’s consistent product portfolio development and strategic sale initiatives help maintain growth momentum, despite various macroeconomic and inflationary risks. It gains from improved manufacturing performance and other cost-containment actions. Also, the company’s sound relationships with its top-notch channel partners in the industry assist it in achieving industry-leading margins and profitability.
During the first quarter of 2024, the company engaged in developing new projects for its future cost-saving pipeline. One such notable project included the development of new plastic recycling and processing technologies. This is expected to allow Trex to efficiently process contaminated materials and enhance them to be used for a larger variety of recycled materials. Furthermore, it added two modern specialty premium railing options to its portfolio. Given the positive response upon the launch, these products are expected to start shipping in the second quarter.
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Shares of this manufacturer of wood-alternative decking and railing grew 50% in the past year, outperforming the Zacks Building Products - Wood industry’s 19.8% growth.
New product development is a key driver for the company’s growth and expansion of its market share. Trex aims to continue seeking and implementing product development and enhancement opportunities through strategic collaborations as well as organic investments to foster its prospects and expand top-line growth.
Zacks Rank & Key Picks
Trex currently carries a Zacks Rank #3 (Hold).
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