James Hardie Building Products Inc. Announces Exclusive Product Deal with Meritage Homes

Rhea-AI Summary

James Hardie Building Products Inc. (NYSE: JHX) has announced a multi-year exclusive agreement with Meritage Homes (NYSE: MTH), the fifth-largest public homebuilder in the U.S. This deal makes Hardie® siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.

The collaboration aims to provide Meritage homebuyers with durable, non-combustible, and pest-resistant siding that offers protection against extreme weather. James Hardie's products also provide a wide range of design options. This partnership aligns with Meritage's mission to build innovative and sustainable homes, leveraging James Hardie's manufacturing footprint and Meritage's national coverage.

Positive

• Exclusive multi-year agreement with the fifth-largest U.S. homebuilder
• Hardie® products become standard on all new Meritage homes with hard siding
• Potential for increased market share and revenue through 2027
• Alignment of James Hardie's manufacturing footprint with Meritage's national coverage

Negative

• None.

- U.S. leading hard siding company becomes exclusive siding and trim supplier for nation's fifth largest homebuilder -

CHICAGO, Aug. 6, 2024 /PRNewswire/ -- James Hardie Building Products Inc. (James Hardie), a subsidiary of James Hardie Industries plc (ASX: JHX; NYSE: JHX) and a North American leader in home-building products, today announced a multi-year exclusive agreement with Meritage Homes (NYSE: MTH), the fifth-largest public homebuilder in the United States.

The exclusive agreement bolsters the existing relationship between James Hardie and Meritage and will make Hardie^® siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.

"The exclusive agreement with James Hardie helps us in our mission to design and build innovative and sustainable homes," said Clint Szubinski, Chief Operating Officer at Meritage Homes. "Our homebuyers will benefit from this agreement as their new homes will feature the durability that is unique to Hardie^® siding and trim products."

Meritage homebuyers will have the trusted protection and superior craftsmanship of James Hardie for their dream home. Hardie^® siding and trim products are non-combustible, won't burn, and resist damage from pests, water, extreme weather and more*. "With an extensive array of colors available across multiple collections and products, James Hardie offers limitless design options ranging from traditional to ultra-modern and everything in between."

"We're proud to offer superior Hardie^® products to Meritage homebuyers," said Sean Gadd, President of James Hardie North America. "Our commitment to deliver high-quality, durable siding and trim products and exterior design solutions is in lockstep with Meritage's mission of building homes with care and superior craftsmanship that deliver enduring value. Meritage's national coverage and scale lines up with well with James Hardie's manufacturing footprint. This commitment is a natural step forward for both companies."

The collaboration between James Hardie and Meritage brings unprecedented quality and climate-resilience to homebuyers, leveraging the expertise and innovation of top industry leaders to create homes that are both aesthetically appealing and built to last.

For more information about James Hardie Building Products Inc., visit www.jameshardie.com.

*Hardie® siding complies with ASTM E136 as a noncombustible cladding and is recognized by fire departments across the U.S. including Chicago IL, St. Paul MN, Flagstaff AZ and Wayne County, OH. Fiber cement fire resistance does not extend to applied paints or coatings, which may be damaged or char when exposed to flames.

James Hardie Building Products Inc.
James Hardie is a North American leader in fiber cement exterior design solutions. Hardie^® products offer long lasting beauty and endless design possibilities with trusted protection and low maintenance. As the #1 producer of high-performance fiber cement building solutions in the United States, James Hardie offers siding and accessories for every style. Hardie® products are non-combustible and stand up to weather and time while empowering homeowners and building professionals to achieve the home of their dreams. James Hardie operates with an inclusive company culture and an unwavering commitment to Zero Harm. The company proudly employs a diverse workforce of over 3,700 employees in North America.

For more information and media resources, visit JamesHardie.com and JamesHardie.com/about-us/media-resources. For investor information, please visit ir.jameshardie.com.au.

Connect with James Hardie on social media:

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Contact:
James Hardie
jameshardieuspr@webershandwick.com 

About Meritage Homes
Meritage is the fifth-largest public homebuilder in the United States, based on homes closed in 2023. The Company offers energy-efficient and affordable entry-level and first move-up homes. Operations span across Arizona, California, Colorado, Utah, Texas, Florida, Georgia, North Carolina, South Carolina and Tennessee.

Meritage has delivered over 185,000 homes in its 38-year history, and has a reputation for its distinctive style, quality construction, and award-winning customer experience. The Company is an industry leader in energy-efficient homebuilding, an eleven-time recipient of the U.S. Environmental Protection Agency's (EPA) ENERGY STAR® Partner of the Year for Sustained Excellence Award and Residential New Construction Market Leader Award, as well as a three-time recipient of the EPA's Indoor airPLUS Leader Award.

For more information, visit www.meritagehomes.com.

 

 

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SOURCE James Hardie Building Products Inc.

FAQ

What is the new agreement between James Hardie (JHX) and Meritage Homes?

James Hardie (JHX) has signed a multi-year exclusive agreement with Meritage Homes, making Hardie® siding and trim products standard on every new Meritage home where hard siding is installed across the U.S. through 2027.

How will this agreement affect James Hardie's (JHX) market position?

The agreement is likely to strengthen James Hardie's (JHX) market position by securing a significant customer and potentially increasing its market share in the U.S. homebuilding industry through 2027.

What are the key features of Hardie® siding products mentioned in the agreement?

Hardie® siding products are described as non-combustible, resistant to pests, water, and extreme weather. They also offer a wide range of colors and design options for homebuyers.

How does this agreement align with Meritage Homes' business strategy?

The agreement aligns with Meritage Homes' mission to design and build innovative and sustainable homes, providing their homebuyers with durable and high-quality siding products.