James Hardie Industries plc has announced the completion of its acquisition of AZEK, creating a leading provider of exterior home and outdoor living solutions. The merger has significantly expanded the company's product offerings and strengthened its customer value proposition. As a result of this integration, James Hardie Industries now has access to a total addressable market more than double the size of its legacy operations. The first quarter results for legacy James Hardie were largely in line with expectations but reflected a normalization of channel inventories due to moderating growth expectations and market softness in single-family new construction. This has resulted in a more defensive inventory approach from distributors and dealers, leading to a lower volume outlook for the business.
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