PVC Board Collar

I built a collar for my kegerator last year and not having a clue how to build something, I realized it is about 2 inches too short to allow a keg on the hump.

Instead of building a whole new collar, I was thinking of raising the existing one up with some 2" edging boards and then putting this PVC board facing on it.  I saw the PVC board stuff at Lowes.  I like the fact that it seems like it is resistant already to moisture ( i.e. no additional staining ), and I can get 1" x 10" boards, that will cover the patch job and hang down below the side of the freezer to screw in a drip tray or what not.

Has anyone used this stuff and it there anything that I’m missing?

Thanks.