Westlake Chemical Corporation to Change Name to Westlake Corporation
Westlake Chemical Corporation (NYSE: WLK) will officially rebrand as Westlake Corporation on February 18, 2022. This change reflects a diversified business portfolio following $3.8 billion in recent acquisitions. The company will operate under two segments: Housing & Infrastructure Products and Performance & Essential Materials. Key acquisitions include LASCO Fittings, Dimex LLC, and Hexion Inc.'s global epoxy business, enhancing Westlake's position in crucial markets. The rebranding aims to better represent the expanded industries served, especially in housing and infrastructure.
- Recent acquisitions valued at approximately $3.8 billion enhance diversification.
- New unified brand and reporting structure reflect business evolution and growth.
- Strategic acquisitions strengthen position in housing and infrastructure markets.
- None.
- New name reflects the Company’s more diversified business portfolio stemming from recent acquisitions and overall organic and strategic growth
- Westlake is now organized under one unified brand with two segments – Housing & Infrastructure Products and Performance & Essential Materials
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Westlake recently concluded four key acquisitions valued at approximately
$3.8 billion
Westlake is now organized under one unified brand name with two financial reporting segments: Housing & Infrastructure Products and Performance & Essential Materials.
“We have reached an important milestone in the history of our Company,” said Westlake President and Chief Executive Officer
Westlake completed a series of acquisitions during 2021, including
The Company’s two newly established reporting segments replace the former segments, Olefins and Vinyls. Housing & Infrastructure Products includes Westlake Royal Building Products,
“As Westlake’s business continues to grow globally, serving multiple industries, what has not changed is our unwavering commitment to the communities where our 16,000 employees work and live, our insistence on high-quality products and services for our customers, and our unrelenting focus on safety and the environment,” continued Chao. “We are committed to delivering consistent, durable and increasingly sustainable products to customers, while also remaining steadfast in creating value for our shareholders. We believe our new name and segmentation better reflects where our Company is today and positions us well for continued long-term success.”
Westlake’s products and materials enhance people’s lives every day. They can be found in a wide range of consumer goods and necessities, such as disinfectants for drinking water; food-grade plastic films used to keep food safe and fresh; a variety of consumer goods including toys, shoes, furniture, car interiors, and electronics; and medical devices and applications such as IV bags and dialysis machine tubing. Additionally, Westlake produces key finished goods for building and infrastructure, such as PVC pipe for water and sewer; residential siding; architectural stone; cement, clay, metal and polymer composite roofing; trim and mouldings; outdoor living products; and more.
The Company's common stock will continue to trade under the ticker symbol “WLK” on the
About Westlake
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in
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