Westlake Chemical Corporation Issues Statement on Hurricane Ida

Rhea-AI Summary

Westlake Chemical Corporation (NYSE: WLK) addressed the impact of Hurricane Ida on its operations in Louisiana and Mississippi. The company prioritized employee safety and reported that it has sustained limited physical damage to its facilities. Operations will resume based on the availability of utilities and feedstocks. Although the situation remains dynamic, Westlake's forward-looking statements highlight the potential risks and uncertainties surrounding the recovery process. For more details, refer to prior SEC filings.

Positive

• Limited physical damage reported to facilities.
• Prioritization of employee safety and community support.

Negative

• Potential disruptions in operations due to utility availability.
• Forward-looking statements carry risks and uncertainties.

HOUSTON--(BUSINESS WIRE)-- Westlake Chemical Corporation (NYSE: WLK) today issued a statement regarding Hurricane Ida, which made landfall near its plants in Louisiana and Mississippi.

Westlake’s primary concern is for the safety of our employees and the communities in which we operate. We are working to assist our employees and their families as needed.

Following initial facility assessments, Westlake believes it has incurred limited physical damage. Restart of the facilities, which Westlake shut down as a precautionary measure in advance of the storm, will primarily depend upon the availability of electricity, industrial gases, and other utilities and feedstocks.

The statements in this release relating to matters that are not historical facts, such as Westlake’s belief that it has incurred limited physical damage and the anticipated restart of its facilities, are forward-looking statements. These forward-looking statements could be adversely affected by a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. Westlake’s expectations may or may not be realized or may be based upon assumptions or judgments that prove to be incorrect. For more detailed information about the factors that could cause actual results to differ materially from the forward-looking statements contained herein, please refer to Westlake’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC in February 2021, and Westlake’s Report on Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC in August 2021.

About Westlake

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210831006051/en/

Media Inquiries:

Westlake Chemical Corp.

Ben Ederington, 713-960-9111

or

Investor Inquiries:

Westlake Chemical Corp.

Steve Bender, 713-960-9111

Source: Westlake Chemical Corporation

FAQ

What is the latest update on Westlake Chemical regarding Hurricane Ida?

Westlake Chemical reported limited physical damage to its facilities and is focused on employee safety and the recovery process.

How has Hurricane Ida affected Westlake Chemical's facilities?

The company believes it has incurred limited physical damage, but operations depend on the restoration of utilities.

What should investors know about Westlake Chemical's operations post-Hurricane Ida?

Investors should be aware of potential risks and uncertainties in the recovery process, as operations are contingent on utility availability.

What is the stock symbol for Westlake Chemical Corporation?

Westlake Chemical Corporation's stock symbol is WLK.