NPK International makes and rents composite matting systems — primarily its DURA-BASE mat, an interlocking mat made from HDPE — used to create temporary access roads and work surfaces at construction and infrastructure project sites. The mats allow heavy equipment to safely access remote or sensitive worksites without damaging the underlying terrain. NPK's primary end market is power transmission, with utility companies and their contractors accounting for roughly 60% of rental and service revenues; other markets include oil and gas, pipeline, petrochemical, renewable energy, and general construction. NPK operates through two revenue streams: rental and services (~66% of revenues), where NPK rents mats on a project basis and provides site planning, logistics, installation, and site restoration; and product sales (~34% of revenues), where NPK sells mats outright to utilities and fleet operators. NPK manufactures its own mats, deploys them into a rental fleet, and targets utilization of 60–80%. Because the fleet is a fixed asset base, incremental rental revenue flows through at high margins. NPK's key growth drivers are rising utility CapEx on U.S. electrical transmission infrastructure and an ongoing secular conversion from timber mats to composite mats. NPK is expanding its rental fleet at roughly 13% per year and plans to add roughly half of its current manufacturing capacity to support continued growth, while also evaluating acquisitions in critical infrastructure markets. NPK operates almost entirely in the U.S. (93% of revenues), with a smaller presence in the U.K.