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 Royal Building Products has announced the 2021 DaVinci Masterpiece Contractor Project of the Year Awards, celebrating four outstanding projects: three residential and one commercial. Residential honors go to Absolute Construction (Garland, Texas), Action Roofing (Santa Barbara, Calif.), and Braswell Construction Group (Greensboro, Ga.). Champion Roofing (Oklahoma City, Okla.) received top recognition for a commercial project at the Children's Center Rehabilitation Hospital. These awards highlight excellence in installation, visual impact, and roofing transformation.
Westlake Royal Building Products has launched SwiftGuard, a synthetic roofing underlayment designed for various roofing types, including steel, tile, shingle, and shake. It features patented nail gasketing technology for enhanced durability and weather protection. SwiftGuard allows for exposure to the elements for up to 180 days without degradation, making it suitable for steep slope installations. The underlayment meets ASTM standards and is lightweight, facilitating easy transport and installation. It will be showcased at the International Roofing Expo and International Builders’ Show in early February 2022.
Hexion has finalized the sale of its epoxy-based Coatings and Composite businesses, including epoxy specialty and base resins, to Westlake Chemical for approximately
Westlake Chemical Corporation (NYSE: WLK) has successfully acquired Hexion Inc.’s global epoxy business for approximately
Westlake Royal Building Products has launched Westlake Royal Roofing, combining the former Boral North America and DaVinci Roofscapes product lines into a comprehensive offering. Unveiled at the 2022 International Roofing Expo in New Orleans, this new branding enhances their portfolio of clay, concrete, steel, and composite roofing solutions. The launch includes innovative products like SwiftGuard and Sol-R-Skin BLUE, aimed at improving roof performance and resilience. This strategic move positions Westlake to better serve contractors, customers, and homeowners across North America.
Westlake Chemical Corporation (NYSE: WLK) is set to release its fourth quarter and full year earnings for 2021 on February 22, 2022, before market opening. A conference call will follow at 11:00 a.m. Eastern Time to discuss the results. Callers can dial (855) 760-8160 or (704) 288-0624 for international access, using passcode 8356311. The call will also be accessible via webcast. A replay will be available for seven days after the call concludes. For more details, visit Westlake's investor page.
Westlake Chemical Partners (NYSE: WLKP) is set to release its fourth quarter and full-year earnings for 2021 on February 22, 2022, before the market opens. A conference call will follow at 1:00 p.m. Eastern Time to discuss results. Interested parties can join by calling (855) 765-5686 or accessing the webcast here. The partnership operates ethylene production facilities and holds a 22.8% stake in Westlake Chemical OpCo LP, which has facilities in Kentucky and Louisiana.
Westlake Royal Building Products has officially launched, merging the portfolios of Royal Building Products, Boral North America, and DaVinci Roofscapes. This new brand introduces a diverse range of products including siding, roofing, and windows, marking a significant expansion for the company. The brand will debut at major trade shows in February 2022, showcasing its innovative offerings to architects and builders across North America. The launch represents over two years of strategic acquisition efforts aimed at enhancing growth and market presence.
The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, marking the 30th such distribution since the Partnership's IPO. This distribution is set to be payable on February 17, 2022, to unit holders of record as of February 3, 2022. Notably, the Partnership is subject to federal income tax withholding for non-U.S. investors at the highest applicable rate. Westlake Chemical Partners operates ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP.
Hexion Holdings has entered into an agreement to be acquired by American Securities LLC for $30.00 per share in cash. The transaction is set to close in the first half of 2022 pending the completion of Hexion's sale of its epoxy business to Westlake Chemical Corporation (NYSE: WLK). Hexion's net sales for 2020 were $2.5 billion, projected to be $1.4 billion post-epoxy sale. The purchase price offers a 15% premium based on closing prices as of December 17, 2021, and 53% compared to July 30, 2021. A majority of shareholders support the acquisition.
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