Welcome to our dedicated page for Westlake Corporation news (Ticker: WLK), a resource for investors and traders seeking the latest updates and insights on Westlake Corporation stock.
Westlake Corporation (NYSE: WLK) is a globally recognized manufacturer and supplier of petrochemicals, plastics, and fabricated products. These products play a crucial role in enhancing the daily lives of people worldwide. From the tires we ride on to the plastic wrap that keeps our food fresh, and from the pipes ensuring clean water to the frames securing our windows, Westlake Corporation's offerings are integral to a multitude of everyday applications.
Headquartered in Houston, Texas, Westlake employs approximately 4,100 people and operates from 16 locations across North America, 7 in Europe, and 1 in China. This extensive network enables the company to efficiently serve a global clientele.
Westlake Corporation's business is divided into two main segments:
- Performance and Essential Materials: This segment provides a wide range of fundamental building blocks for numerous products used in daily life, including olefins, vinyl chemicals, polyethylene, and epoxies. These materials are essential for various industries, from automotive to packaging and construction.
- Housing and Infrastructure Products: This segment focuses on producing finished goods critical to the building products, pipe and fittings, and global compounds businesses. The products in this segment support infrastructure development and housing projects, highlighting Westlake's significant role in these sectors.
Westlake Corporation prides itself on innovation and sustainability. The company has been involved in numerous projects aimed at reducing environmental impact, enhancing product performance, and ensuring safety standards. Recent achievements include advancements in polymer technology and strategic partnerships that expand their market reach and enhance product offerings.
Financially, Westlake Corporation has demonstrated robust performance, reflecting its strategic investments and market positioning. The company's financial health is supported by a strong balance sheet, consistent revenue growth, and effective cost management strategies.
For more detailed information and the latest updates, visit Westlake Corporation's official website.
Westlake (NYSE: WLK) announced that Westlake Compounds has received an EcoVadis Bronze Medal, placing it among the top 35% of globally assessed companies. The recognition follows a third-party assessment of Westlake Global Compounds' North American sites' performance in environmental sustainability and management.
EcoVadis, the world's largest business sustainability ratings provider, evaluates over 75,000 companies across 160 countries and 200 industries. Their assessment methodology examines four key areas: environment, labor and human rights, ethics, and sustainable procurement. The achievement reflects Westlake's commitment to implementing responsible business practices throughout its international operations.
Westlake Chemical Partners LP (NYSE:WLKP) has announced its fourth quarter 2024 distribution of $0.4714 per unit, marking its 42nd quarterly distribution since its IPO. The distribution will be paid on February 25, 2025, to unitholders of record as of February 7, 2025.
The announcement includes a qualified notice under Treasury Regulation Section 1.1446-4(b), stating that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate, as they are considered income effectively connected with U.S. trade or business.
DaVinci Roofscapes, a division of Westlake Royal Building Products (NYSE:WLK), has announced six winners of their 2024 Masterpiece Contractor Project of the Year Awards. Five residential and one commercial project were recognized for excellence in installation, visual impact, and transformation ability.
The residential winners include: Allstar Construction for reconstructing a historic home after fire damage; Great Roofing and Restoration for replacing a wind-damaged roof on a castle-like estate; JnJ Restoration for restoring three historical structures; Oconee Designer Roofing for a lakeside home renovation; and Shake Guys for updating a lakeside estate roof. The commercial award went to Totin Too, for replacing Shannopin Country Club's roof.
DaVinci's composite roofing tiles are made with virgin resins and specialized fire retardant, offering resistance to impact, fire, severe weather, insects, and rotting. The products come with a Lifetime Material Warranty.
Westlake Royal Building Products (NYSE:WLK) has introduced Tapco Tape™, a new measuring accessory for Tapco Tools® siding and trim brakes. The accessory enhances efficiency and precision in onsite trim fabrication by providing an instant scale for bends and cut-offs, eliminating the need for separate tape measures. Key features include:
- Easy attachment to Tapco Tools brakes without drilling
- Built-in 1.5" offset for Pro-Cutoff use
- Hinged design for flexible positioning
- Material stops for efficient repeat bends
- Compatibility with multiple brake models including Max-I-Mum® XL, PRO 14®, PRO 19®, Pro® II, Pro® III, Pro® 2000, and Pro® 50"
Westlake (NYSE: WLK) subsidiary Westlake Innovations has invested in Universal Matter, a Burlington, Ontario-based company focused on sustainable graphene production. Universal Matter has developed patented Flash Joule Heating (FJH) technology that enables cost-effective, industrial-scale upcycling of carbon waste into high-quality graphene and graphitized carbon.
The technology, originally developed at Rice University, creates tunable graphene across 1D, 2D, and 3D morphologies, with superior properties for industrial applications. The company has also developed methods to disperse graphene in various mediums, facilitating its incorporation into products like asphalt, concrete, rubber, composites, paints, and coatings.
Westlake Royal Building Products (NYSE: WLK) has launched Dryroll™, a new universal ridge vent and weather block solution. The product features easy rollable installation and provides superior airflow with 15.6 square inches of ventilation per linear foot. Key features include:
- Butyl strips for effective sealing against wind-driven rain and snow
- Available in 11.6" wide 3.7-pound and 14.4" 4.6-pound rolls
- Compatible with Newpoint™ Concrete Roof Tile and US Tile® Clay Roofing Products
- Key component of Westlake Royal™ Cool Roof System
When integrated into the Cool Roof System, Dryroll contributes to up to 22% annual energy savings by enhancing ventilation and energy efficiency.
Westlake (NYSE: WLK) has appointed Roger A. Cregg to its board of directors, replacing Marius A. Haas who retired effective December 10, 2024. Cregg, 68, brings extensive experience in homebuilding and other industries, having most recently served as President, CEO, and Director of AV Homes until its sale to Taylor Morrison Homes in 2018.
Cregg's background includes executive positions at ServiceMaster Company, PulteGroup, Zenith Electronics, and Sweetheart Cup Company. He currently serves on the boards of Comerica, Sterling Infrastructure, and Minto Group. He holds a B.S. in accounting from Northeastern University and an MBA from Northwestern University's Kellogg School of Management.
Westlake (NYSE: WLK) has released its seventh annual 2023 Sustainability Report, highlighting sustainability innovations and operational improvements. The report details the company's community contributions and employee development initiatives.
Key highlights include the introduction of recycled PVC compounds under the Pivotal™ brand, installation of a solar power plant in Spain, participation in a Louisiana renewable power program, and expansion of management training programs. The report follows Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Task Force on Climate-Related Financial Disclosures (TCFD) frameworks, providing transparency across Performance & Essential Materials and Housing & Infrastructure Products divisions.
Westlake (NYSE: WLK) has declared a regular quarterly dividend of $0.525 per share for the third quarter of 2024. The dividend will be paid on December 12, 2024, to stockholders of record as of November 26, 2024. The company has maintained a consistent track record of paying and increasing dividends since its first dividend announcement on November 11, 2004, marking a 20-year history of consecutive dividend payments.
Westlake Royal Building Products (NYSE:WLK) has expanded its partnership with Alexandria Moulding to strengthen its distribution footprint in Canada. Alexandria Moulding will now distribute Versetta Stone®, a mortarless cement-based stone veneer siding panel, at locations in Alexandria, Ontario, Calgary, Alberta, and Moxee, Washington. The expansion builds upon their existing partnership, which includes distribution of Royal® Trim & Mouldings and Celect® Cellular Composite Siding. Versetta Stone offers the appearance of hand-laid stone walls with virtually undetectable joints and easy installation features.
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