1 unchanged sentence
Corporate Headquarters
+Added: Corporate Headquarters
Trex Residential
−Removed: Virginia / Nevada
−Removed: Warehouse, Research and Development, Storage, Training and Manufacturing Facilities
+Added: Warehouse, Research and
+Added: Development, Storage, Training and Manufacturing
Trex Residential
−Removed: 1,202,660 SF / 150 Acres
−Removed: Virginia / Nevada
−Removed: Manufacturing Facilities, Storage and Office Space
+Added: 1,202,660 SF /
+Added: Manufacturing Facilities,
+Added: Storage and Office Space
Trex Commercial
−Removed: Warehouse, Facility and Office Space
+Added: Warehouse, Facility and
We regularly evaluate our various facilities and equipment and make capital investments where necessary.
−Removed: In 2020, we spent a total of $172.8 million on capital expenditures, including $162.9 million related to capacity expansion and general plant cost reduction initiatives, $6.2 million for other production improvements and $1.1 million for general support initiatives.
−Removed: In order to keep pace with demand, in June 2019, we announced a new capital expenditure program to increase production capacity at our Trex Residential facilities in Virginia and Nevada.
−Removed: The new multi-year capital expenditure program is projected at approximately $200 million through 2021 and involves the construction of a new decking facility at the existing Virginia site and the installation of additional production lines at the Nevada site.
−Removed: The investment will allow us to increase production output for future projected growth related to our strategy of converting wood demand to Trex Residential wood-alternative composite decking.
−Removed: When completed these investments will increase our Trex Residential production capacity by approximately 70 percent.
+Added: In 2021, we spent a total of $159.4 million on capital expenditures, primarily at our Trex Residential facilities, including $126.3 million related to capacity expansion and general plant cost reduction initiatives, $24.9 million for other equipment expenditures and production improvements and $6.4 million for general support initiatives.
+Added: In order to keep pace with demand, in June 2019, we announced a capital expenditure program to increase production capacity at our Trex Residential facilities in Virginia and Nevada.
+Added: The multi-year capital expenditure program involved the construction of a new decking facility at the existing Virginia site and the installation of additional production lines at the Nevada site.
+Added: The investment, completed in 2021, allowed us to increase production output for future projected growth related to our strategy of converting wood demand to Trex Residential wood-alternative composite decking.
+Added: In addition, our engineering team installed incremental decking lines within our new Virginia facility that further expanded our production capability.
+Added: Additionally, we recently announced plans to develop a third U.S.-based Trex Residential manufacturing facility on approximately 300 acres in Little Rock, Arkansas.
+Added: We plan to invest approximately $400 million in this project over the next five years, funded primarily through ongoing cash generation.
+Added: With the potential to become our largest manufacturing facility over time, the Arkansas manufacturing campus will address increased demand for Trex Residential outdoor living products.
+Added: Construction is slated to begin early in 2022 with a modular development approach calibrated in alignment with demand trends.
+Added: We expect initial production output to begin in 2024 and, over time, the facility will employ approximately 500 people.
+Added: These expansion activities provide Trex Residential with additional capacity to flex with demand by adding capacity as needed, while providing bandwidth to pursue opportunities to expand domestically and internationally as we continue to drive wood conversion and capture incremental market share from the strength of Trex products and the brand.
For information about our leases, see Note 9 to our Consolidated Financial Statements appearing elsewhere in this report.
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.