Westlake Vinnolit Customers Appreciate Joint Efforts on Decarbonization

Rhea-AI Summary

Westlake Vinnolit has been recognized with two significant awards by the Polymers for Europe Alliance. The company won the PVC category of the 2024 ‘Polymer Producer Awards’ and the ‘Overall Award – Decarbonization’. These awards cite Westlake Vinnolit's achievements in areas like delivery reliability, circularity, quality, communication, innovation, and commitment to the European market. Their GreenVin® product line, which includes CO2-saving PVC resins, was highlighted as a major contributor to their success. This product line is produced using renewable electricity and saves up to 90% CO2 compared to conventional PVC.

Westlake Vinnolit, headquartered in Ismaning, Germany, employs 1,400 people, generating annual sales exceeding €1 billion. The company supports sustainable development initiatives and participates in the chemical industry's Responsible Care program.

Positive

• Westlake Vinnolit won the 2024 Polymer Producer Awards for the PVC category.
• Awarded the ‘Overall Award – Decarbonization’ by the Polymers for Europe Alliance.
• GreenVin® PVC product line saves up to 90% CO2 compared to conventional PVC.
• Employs 1,400 people and generates over €1 billion in annual sales.

Negative

• None.

• Westlake Vinnolit won the PVC category of the 2024 ‘Polymer Producer Awards’ by the Polymers for Europe Alliance (PEA), applying PEA criteria focused on delivery reliability, circularity, quality, communication, innovation and commitment to the European Market.
• Westlake Vinnolit also won PEA's ‘Overall Award – Decarbonization’, in recognition of the company's achievements in the field of CO₂-saving PVC resins.

ISMANING, Germany--(BUSINESS WIRE)-- This year, a particularly large number of plastics converters took part in the annual polymer producers’ assessment sponsored by the Polymers for Europe Alliance. All polymers users in Europe had until mid-May to vote and rate their polymer suppliers' performance during the past 12 months. Following this year's key criteria delivery reliability, circularity, quality, communication, innovation and commitment to the European Market, Westlake Vinnolit won the PVC category with 92% of the vote. "We are delighted with this great success and would like to thank our customers for their continued trust and inspiration," said Dr. Karl-Martin Schellerer, Senior Vice President, Westlake Performance and Essential Materials - Europe and Asia, and Managing Director of Westlake Vinnolit. "At the same time, this is the greatest incentive for us to continue to improve."

‘Supplier of the year for PVC’ and ‘Overall Award – Decarbonisation’ for Westlake Vinnolit: Ron Marsh, Chairman of the Polymers for Europe Alliance (left), congratulated Dr. Karl-Martin Schellerer, Senior Vice President, Westlake Performance and Essential Materials - Europe and Asia. (Photo: Polymers for Europe Alliance)

Furthermore, Westlake Vinnolit also won the ‘Overall Award – Decarbonization.’ “The PVC Award is a major accolade, surpassed only by being awarded the number one plastics supplier in terms of decarbonization,” said Schellerer, who received the awards and certificates from Ron Marsh, Chairman of the Alliance, and EuPC President Benoît Hennaut, at the ceremony that took place at the European Plastics Converters’ conference ‘A Circular Future with Plastics’ in Brussels. “The de-fossilization of plastics is an important building block in the effort to combat climate change and one of the biggest challenges for the industry. With our CO₂-saving GreenVin® product line, we actively support our customers in helping them to reduce Scope 3.1 emissions and advance their sustainability goals.”

Vinnolit GreenVin® PVC is produced entirely with electricity from renewable energy sources, backed with European high-quality certificates for renewable energies (Guarantees of Origin / HKNs) and saves around 25% CO₂ equivalents in comparison to conventionally produced ®Vinnolit PVC. The respective carbon footprint was calculated by Sustainable AG in accordance with the ISO 14067 standard and certified by TÜV Rheinland. GreenVin® bio-attributed PVC, in addition, uses renewable ethylene based on 2^nd generation biomass, which increases the CO₂ savings to around 90%, taking into account the biogenic CO₂ fixation. Vinnolit GreenVin® bio-attributed PVC is mass-balanced and certified according to ISCC PLUS and REDcert2. The favorable product and processing properties desired by customers remain unchanged.

The Polymers for Europe Alliance was initiated by the European Plastics Converters association (EuPC) to provide factual public information on the status of the polymer supply situation in Europe and to engage in a constructive dialogue with the supply base. The initiatives of the Alliance also include the Polymer Producers Awards for Europe. In this Europe-wide customers’ satisfaction survey all users of polymers in Europe can rate their suppliers of the year.

ABOUT WESTLAKE VINNOLIT

As a leading manufacturer for PVC and an important partner for caustic soda, Westlake Vinnolit offers individual solutions for customers from a wide range of industries, such as the construction sector, the automotive industry, medical technology or pulp and paper production. As a manufacturer of high-quality PVC specialties, Westlake Vinnolit is a global market leader. At its headquarters in Ismaning near Munich and its four production sites in Burghausen, Gendorf, Knapsack and Cologne, 1,400 employees generate annual sales of more than €1 billion.

Westlake Vinnolit participates in the chemical industry's Responsible Care program for the continuous improvement of safety, health and environmental protection and supports VinylPlus®, the European PVC industry's voluntary commitment to sustainable development, as an "Official Partner" financially, ideally and through active participation. For more information visit www.westlakevinnolit.com

ABOUT WESTLAKE CORPORATION (WLK)

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. 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/20240711680182/en/

Dr. Oliver Mieden, Head of Communications & Public Affairs – Europe and Asia

Phone: +49 (0)89 96103-282, E-mail: oliver.mieden@westlakevinnolit.com

Andrea Walter, Communications & Public Relations – Europe and Asia

Phone: +49 (0)89 96103-240, E-mail: andrea.walter@westlakevinnolit.com

Source: Westlake Corporation

FAQ

What awards did Westlake Vinnolit win in the 2024 Polymer Producer Awards?

Westlake Vinnolit won the PVC category and the ‘Overall Award – Decarbonization’.

How does Westlake Vinnolit contribute to decarbonization with its PVC products?

Westlake Vinnolit's GreenVin® PVC product line saves up to 90% CO2 compared to conventional PVC by using renewable electricity and renewable ethylene based on 2nd generation biomass.

How significant is Westlake Vinnolit's market presence?

Westlake Vinnolit employs 1,400 people and generates annual sales exceeding €1 billion, making it a global market leader in high-quality PVC specialties.

What are the key criteria for the Polymer Producer Awards won by Westlake Vinnolit?

The key criteria include delivery reliability, circularity, quality, communication, innovation, and commitment to the European market.

What is the stock symbol for Westlake ?

The stock symbol for Westlake is WLK.