Westlake and Nexii Announce Alliance to Support Sustainable Building

Rhea-AI Summary

Westlake Innovations, a subsidiary of Westlake Chemical (NYSE: WLK), has partnered with Nexii Building Solutions to promote sustainable construction practices. As the preferred supplier, Westlake will provide building materials like siding and roofing for Nexii's eco-friendly projects. This alliance aligns with Westlake's commitment to environmental sustainability, further bolstered by its recent acquisitions of Dimex and Boral's North American building products divisions. Nexii's innovative Nexiite material enables faster construction and minimizes onsite waste, making it a significant player in green building technology.

Positive

• Formation of a partnership with Nexii, enhancing Westlake's sustainability initiatives.
• Westlake becomes the preferred supplier for Nexii's building materials, potentially increasing sales.
• Recent acquisitions (Dimex and Boral's businesses) expand Westlake's product offerings and market reach.
• Nexii's Nexiite material promotes faster construction and reduced carbon emissions.

Negative

• None.

HOUSTON--(BUSINESS WIRE)-- Westlake Innovations, Inc., a subsidiary of Westlake Chemical Corporation (NYSE: WLK), and Nexii Building Solutions Inc. (Nexii) today announced that the companies have formed an alliance to support the construction of buildings with a reduced environmental footprint. Also, Westlake will be the preferred supplier of certain building materials it makes for Nexii residential construction, including siding, stone, roof tiles, trim and molding, pipe and fittings.

Nexii is a green construction technology company that designs and manufactures high-performance buildings and building products that are sustainable, cost-efficient and resilient in the face of climate change. Westlake is a global manufacturer and supplier of building products and infrastructure materials that enhance life every day.

The alliance with Nexii supports Westlake’s longstanding commitment to sustainability and stewardship of the environment. In addition to the Nexii alliance, Westlake recently completed its acquisition of Dimex, which manufactures consumer and building products from post-industrial-recycled polymers; and Boral’s North American building products businesses in roofing; siding, trim and shutters; decorative stone; and windows.

Headquartered in Vancouver, British Columbia, Nexii has pioneered a proprietary material, Nexiite, that has comparable properties to concrete but contains no Portland cement or lime, reducing carbon emissions. Nexiite is used to create Nexii Panels that are precision manufactured at plants operated by Nexii or Nexii Certified Manufacturers, then are shipped flat-packed to site where they are rapidly assembled.

This “whole-building solution” creates disaster-resilient buildings and retrofits with up to 75% faster build time¹ compared to traditional construction methods and materials. Nexii creates near-zero construction waste onsite and produces buildings that are airtight and energy-efficient, further reducing climate impacts.

About Nexii

Nexii Building Solutions Inc. (Nexii) is a green construction technology company that is committed to building a vibrant future for people and the planet. Nexii designs and manufactures high-performance buildings and green building products that are sustainable, cost-efficient and resilient in the face of climate change. The Nexii System also significantly reduces construction timelines, enabling the rapid development of green buildings across North America. Nexii is suited for industrial / commercial / institutional, mixed-use, multi-family residential and single-family homes, as well as for the green retrofit market. For more information, visit www.nexii.com, or connect with us on Instagram (@NexiiBuilds), Twitter (@NexiiBuilds) or on LinkedIn (Nexii Building Solutions).

About Westlake

Westlake Innovations, Inc. was formed in early 2021 to facilitate the company’s potential investments in new technologies and pursue innovative digital, mechanical or chemical applications such as carbon sequestration or recycling. Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company's web site at www.westlake.com.

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¹ Relative to conventional construction

View source version on businesswire.com: https://www.businesswire.com/news/home/20211007005225/en/

Chip Swearngan

mediarelations@westlake.com

1- 713-960-9111

Source: Westlake Chemical Corporation

FAQ

What is the recent partnership between Westlake Chemical and Nexii Building Solutions about?

Westlake Innovations has formed a partnership with Nexii to support sustainable construction, with Westlake as the preferred supplier of certain building materials.

How does the Nexii partnership benefit Westlake Chemical (NYSE: WLK)?

The partnership allows Westlake to expand its sales through the supply of eco-friendly building materials, aligning with its sustainability goals.

What products is Westlake supplying to Nexii under their partnership?

Westlake will supply materials including siding, stone, roofing tiles, trim, and molding for Nexii's construction projects.

What recent acquisitions has Westlake made to support its business?

Westlake recently acquired Dimex and Boral's North American building products businesses, enhancing its product range and market position.

What is Nexii's unique building material and its benefits?

Nexii's Nexiite material has properties similar to concrete but reduces carbon emissions, enabling quicker construction and minimal waste.