An expected interest rate increase by the Federal Reserve won't put the brakes on growth at Trex Company (TREX), which is the world's largest manufacturer of wood-alternative decking. 'We think the interest rates still remain low, even if the Fed does take action, said Jim Cline, CEO of Trex.'We think it will have a minimal impact on the outdoor decking products.' Cline sees continued strong growth in 2016, based on increasing consumer confidence, which correlates with company revenue. Trex has already projected fourth-quarter net sales of about $85 million, which would be a 15% increase over last year's results and put the company on track to achieve record annual revenue for 2015. 'We're seeing very strong growth for the fourth quarter. Part of that is coming from market share gains,' explained Cline. Trex's residential market share in 2014 was 41%, up 5% since 2012. Cline also said Trex is now growing at a faster rate internationally than domestically, even with the stronger U.S. dollar. Cline spoke with TheStreet's Rhonda Schaffler in New York.
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