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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 Partners LP (NYSE:WLKP) has announced its third quarter 2024 distribution of $0.4714 per unit, marking its 41st quarterly distribution since its IPO. The distribution will be paid on November 27, 2024, to unitholders of record as of November 12, 2024. The announcement includes notice that 100% of distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate.
Westlake Epoxy has joined the B4 Consortium in Western North Brabant, Netherlands, as part of an initiative to develop bio-based building blocks for the construction industry. The three-year project involves 11 partners led by TNO, focusing on converting tree and plant residues into sustainable construction materials. Westlake Epoxy will explore replacing fossil fuel-based feedstock with bio-based alternatives for epoxy resin production. The €4.4 million project aims to reduce CO2 emissions in construction by 50% by 2030 and 90% by 2050, targeting the replacement of fossil-based aromatics, which are present in 40% of products including paint, glue, and insulation materials.
Westlake Chemical Partners (NYSE: WLKP) has announced its upcoming third quarter 2024 earnings release and conference call. The company will release its earnings before the market opens on Tuesday, November 5, 2024. A conference call is scheduled for 1:00 p.m. Eastern Time (12:00 p.m. Central Time) on the same day to discuss the results.
To participate in the conference call, interested parties must pre-register at the provided link to receive a unique PIN for access. The call will also be available via webcast, and the earnings release will be accessible on the company's investor relations website.
Westlake (NYSE: WLK) has announced its upcoming third quarter 2024 earnings release and conference call. The company will disclose its financial results before the market opens on Tuesday, November 5, 2024. Following the release, Westlake will host a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss the earnings report.
To participate in the conference call, interested parties must pre-register through a provided link. Upon registration, participants will receive a unique phone number and PIN for access. The earnings conference call will also be accessible via webcast, and the earnings release will be available on Westlake's investor relations website.
Westlake (NYSE: WLK) announced that its Westlake Global Compounds businesses and operating sites outside the U.S. have been awarded the EcoVadis Silver Medal. This recognition places these sites among the top 15% of companies assessed by EcoVadis globally over the past year.
The award reflects Westlake's commitment to improved environmental sustainability and corporate social responsibility. EcoVadis, the world's largest provider of business sustainability ratings, evaluated Westlake Global Compounds' performance at sites in Mexico, Europe, and Asia. The assessment covered four key areas: environment, labor and human rights, ethics, and sustainable procurement.
Bridget Confait-Smith, associate director at Westlake Global Compounds, stated that this achievement underscores their commitment to environmental stewardship and ethical business practices, motivating them to continue pursuing operational excellence and leadership in sustainability practices.
Westlake Royal Building Products, a Westlake company (NYSE:WLK), announced that Versetta Stone® has been named a winner in Good Housekeeping's 2025 Home Reno Awards in the 'Exterior Enhancements' category. Versetta Stone offers the look of traditional stone masonry with easier installation, featuring a tongue-and-groove interlocking system for seamless appearance.
Key features of Versetta Stone include:
- Minimal upkeep with no need for painting or sealing
- Advanced moisture management system
- Wind resistance up to 110 MPH
- Class A fire rating
- 50-year warranty
Steve Booz, VP of marketing at Westlake Royal Building Products, highlighted Versetta Stone's rich texture, design flexibility, and low maintenance as key factors in its popularity among homeowners and DIY enthusiasts.
Westlake (NYSE: WLK) has launched a pioneering PVC recycling program called 'Choose Pink' in collaboration with Houston Methodist. This first-of-its-kind initiative in Houston aims to recycle post-patient PVC items from outpatient procedures, such as nasal cannulas, masks, oxygen tubing, and saline bags. The collected materials will be transported to Westlake Dimex's facility in Marietta, Ohio for recycling.
The program is expected to significantly reduce landfill waste and carbon footprint. Westlake Dimex, one of the largest processors of post-industrial resins in the U.S., will reprocess the collected PVC into various consumer and industrial products, including chair matting, garden edging, and cord protectors. This initiative aligns with Houston Methodist's commitment to sustainability and innovation in healthcare.
Westlake Royal Building Products, a Westlake company (NYSE:WLK), has released its Trends Report: The Best In Home Design, offering insights into the latest trends in home design and remodeling. The report highlights key trends such as:
- Mixed textures and colorways for bold contrasts
- Biophilic design incorporating natural elements
- Extreme weather protection with durable materials
- Long product life cycles for better ROI
The report also addresses industry challenges like labor shortages by showcasing labor-supporting innovations and contractor resources. Westlake Royal aims to provide diverse options for unique design expressions while emphasizing aesthetics, performance, innovation, and sustainability.
Westlake (NYSE: WLK) has declared a regular quarterly dividend of $0.525 per share for the second quarter of 2024. The dividend will be payable on September 5, 2024, to stockholders of record on August 20, 2024. This marks the 80th consecutive quarterly dividend since Westlake's initial public offering in August 2004, demonstrating the company's commitment to returning value to shareholders. The consistent dividend payments reflect Westlake's financial stability and confidence in its future performance.
Westlake Chemical Partners LP (NYSE: WLKP) reported Q2 2024 results with net income of $14.4 million, or $0.41 per unit, up from $11.9 million in Q2 2023. Cash flows from operating activities increased to $121.9 million, and MLP distributable cash flow rose to $17.1 million. The company declared a quarterly distribution of $0.4714 per unit, marking its 40th consecutive quarterly distribution.
Key highlights include:
- Improved third-party ethylene sales prices and margins
- Upcoming planned maintenance turnaround at Petro 1 ethylene unit in Q3
- Trailing twelve-month distribution coverage ratio of 0.96x
- Appointment of Jean-Marc Gilson as President, CEO, and director of the general partner
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