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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 Corporation (NYSE: WLK) will announce its second quarter earnings on August 3, 2021, before market opening. A conference call is scheduled for 11:00 a.m. ET to discuss the results. Investors can join by calling (855) 760-8160 or via webcast at this link. A replay will be available for seven days following the call. Westlake, based in Houston, specializes in the manufacture of materials and products used in various industries, including packaging, healthcare, and construction.
North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical (NYSE: WLK), will acquire LASCO Fittings, a leader in PVC fittings manufacturing. This transaction aims to enhance NAPCO's market presence, especially in smaller fittings, and cater to diverse markets such as plumbing and irrigation. LASCO operates a significant manufacturing facility in Brownsville, Tennessee, and has a strong distribution network. The acquisition is subject to customary regulatory approvals and expected to close in the second half of 2021.
Westlake Chemical Corporation (NYSE: WLK) has announced a definitive agreement to acquire Boral Industries Inc.'s North American building products businesses for $2.15 billion in cash. The acquisition, subject to regulatory clearance, is expected to enhance Westlake's market scale and product diversity while generating annual cost synergies of approximately $35 million. Boral’s businesses, employing about 4,600 employees across 29 sites, generated over $1 billion in revenue in the fiscal year ending June 30, 2020. The deal is expected to close in the second half of 2021.
Westlake Chemical's Water Treatment division has highlighted its role in a wastewater processing plant upgrade in Donora, Pennsylvania. The borough invested nearly $50 million in this project to enhance Combined Sewer Overflow (CSO) management, making it one of the first in the U.S. to comply with the Clean Water Act. The plant utilizes Westlake's Accu-Tab chlorination and CleanSlate dechlorination systems, known for their efficiency and reliability. This upgrade aims to significantly reduce storm sewage runoff and protect local waterways.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has announced a dividend of $0.2700 per share for Q1 2021. This dividend will be paid on June 9, 2021, to shareholders on record as of May 25, 2021. This marks the 67th consecutive quarterly dividend declared since the company’s IPO in August 2004.
Westlake Chemical Corporation (NYSE: WLK) reported a strong first quarter of 2021, with net income of $242 million, or $1.87 per diluted share, up from $145 million in Q1 2020. The increase was driven by higher sales prices and margins for polyethylene and PVC, boosted by robust demand in the construction and packaging sectors. However, challenges included increased maintenance expenses and higher feedstock costs attributed to a severe winter storm. EBITDA for the quarter reached $553 million, up from $337 million year-over-year.
Westlake Chemical Corporation (NYSE: WLK) is set to release its first quarter earnings for 2021 on May 4, 2021, before the market opens. A conference call will follow at 11:00 a.m. ET to discuss the results. Interested parties can join the call by dialing (855) 760-8160, and the call will also be available via webcast. A replay will be accessible for seven days after the event. Westlake, based in Houston, is a global manufacturer of materials for various sectors, including packaging, healthcare, and construction.
Westlake Chemical Corporation (NYSE: WLK) and the Ting Tsung and Wei Fong Chao Foundation have jointly contributed $100,000 to the Houston Harris County Winter Storm Relief Fund. This fund was created to provide emergency aid to those impacted by the February 2021 winter storm. Westlake's President and CEO, Albert Chao, emphasized the company's commitment to the Houston community, where it has operated for nearly 35 years. The company, headquartered in Houston, is a global supplier of materials for various essential industries.
Westlake Chemical Corporation (NYSE: WLK) reported a net income of $113 million for Q4 2020, a $41 million increase from Q4 2019. Revenue for the quarter was $1,965 million, driven by higher sales prices for polyethylene and PVC resin. However, lost sales due to hurricanes and increased maintenance costs impacted net income. For the full year 2020, net income was $330 million, down $91 million from 2019. The outlook for 2021 is positive, with expectations of continued demand growth in polyethylene and PVC, aided by rising housing starts.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has declared a regular dividend of $0.2700 per share for Q4 2020. This dividend is set to be paid on March 16, 2021, to shareholders on record as of March 2, 2021. This marks the 66th consecutive quarterly dividend since the company’s IPO in August 2004, demonstrating strong shareholder returns and consistent financial performance.
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