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 Chemical Corporation (NYSE: WLK) subsidiary, North American Pipe Corporation (NAPCO), unveils a new product, molecular oriented PVC (PVCO) pipe, boasting a lower carbon footprint than prior offerings. This initiative expands NAPCO’s production capacity at its Woodbridge, Ontario facility. The innovative PVCO pipe promises improved material strength, flow capacity, and impact performance relative to traditional C900 products while adhering to AWWA C909 standards. NAPCO is ramping up inventory in anticipation of the upcoming construction season in Canada.
Hexion Holdings Corporation announced a definitive agreement to sell its epoxy-based Coatings and Composite businesses for approximately
Westlake Chemical Corporation (NYSE: WLK) has announced a definitive agreement to acquire Hexion Inc.'s global epoxy business for approximately $1.2 billion. This acquisition aims to enhance Westlake's chemicals portfolio by integrating Hexion's specialty resins, coatings, and composites, which generated $1.5 billion in net sales in the last 12 months ending September 30, 2021. The deal is expected to close in the first half of 2022, significantly expanding Westlake's integrated business in sustainable manufacturing for industries like automotive and renewable energy.
Westlake Chemical Corporation (NYSE: WLK) has announced the launch of GreenVin™ Polyvinyl Chloride (PVC) through its Vinnolit subsidiary in Germany. This lower-carbon PVC product aims to meet rising market demand for sustainable materials, saving approximately 25% in carbon dioxide emissions compared to traditional PVC. The initiative follows the earlier introduction of lower carbon caustic soda in February 2021. GreenVin™ supports Westlake's broader commitment to sustainability and environmentally friendly practices in chemical production.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has declared a dividend of
Westlake Chemical Partners LP (NYSE: WLKP) announced a quarterly distribution of $0.4714 per unit, marking the 29th consecutive distribution. In Q3 2021, net income decreased to $12.8 million, down from $18.5 million in Q3 2020, primarily due to reduced sales and planned production outages. Cash flows from operating activities dropped to $99.5 million, down $17.7 million year-over-year. The Partnership reports a trailing twelve-month MLP distributable cash flow coverage of 1.06x. The CEO expressed confidence in future cash flows and market demand for their products.
Westlake Chemical Corporation (NYSE: WLK) announced record quarterly results for Q3 2021, reporting net sales of $3.1 billion and net income of $607 million, marking a significant increase from $57 million in Q3 2020. EBITDA reached a record $1.1 billion, driven by higher sales prices and strong demand in both the Vinyls and Olefins segments. The company completed acquisitions of Boral North America, Dimex LLC, and LASCO Fittings, expanding its footprint in sustainable building products. Cash provided by operations was $755 million, while long-term debt stood at $5.2 billion.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Chemical Corporation (NYSE: WLK) will release its third quarter earnings for 2021 on November 2, 2021, before market opening. A conference call is scheduled for 11:00 a.m. Eastern Time to discuss these earnings. Investors can join via phone or access the webcast through the company’s website. A replay of the call will be available for seven days. Westlake is known for manufacturing and supplying materials that contribute to various industries, including packaging, healthcare, automotive, and construction.
Westlake Chemical Partners (NYSE: WLKP) is set to release its third quarter earnings for 2021 on Tuesday, November 2, 2021, before the market opens. A conference call will follow at 12:00 p.m. ET to discuss the earnings. Interested participants can join the call by dialing (855) 765-5686, or via webcast. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
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