Westlake Chemical

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Westlake Chemical Corporation
TypePublic
NYSE: WLK
Russell 1000 Component
IndustryChemicals, Petrochemicals
Founded1986
FounderTing Tsung Chao
HeadquartersHouston, Texas
Key people
Albert Chao (President and CEO)
RevenueIncrease US$ 8.6350 billion[1]
Decrease US$996.0 million (2018) | US$1,304 million (2017)[2]
Total assetsDecrease US$11,602 million (2018) | US$12,076 million (2017)[3]
Number of employees
8,870 [4] (2018)
Websitewestlake.com

[5]

Westlake Chemical is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets.[6] The company was founded by Ting Tsung Chao in 1986.[7] it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000.[8][9] Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products.[10]

Facilities[]

In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana.[11] In 2014, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.[12]

In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.[13]

In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion[14][15]

References[]

  1. ^ "Revenues". Fortune. Retrieved 30 July 2019.
  2. ^ "Net income". Fortune. Retrieved 30 July 2019.
  3. ^ "Assets". Fortune. Retrieved 30 July 2019.
  4. ^ "Westlake Chemical". Fortune. Retrieved 2019-07-30.
  5. ^ "Westlake Chemical". Fortune. Retrieved 2019-07-30.
  6. ^ "Westlake Chemical". Fortune. Retrieved 2018-12-16.
  7. ^ Abram, Lynwood (16 March 2008). "Chao, pioneered petrochemical ventures around the world". Houston Chronicle. Retrieved 17 December 2018.
  8. ^ "ICIS Top 100 Chemical Companies: Westlake Chemical is the ICIS Company of the Year". ICIS. September 30, 2013.
  9. ^ "The World's Biggest Public Companies". Forbes.
  10. ^ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile | Reuters.com". U.S. Retrieved 2019-08-06.
  11. ^ Larino, Jennifer (23 October 2014). "Westlake Chemical to spend $330 million on ethylene plant expansion in Sulphur". Times-Picayune. Retrieved 16 March 2015.
  12. ^ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
  13. ^ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
  14. ^ Boral agrees to sell its North American building products business Boral June 21, 2021
  15. ^ "Westlake Buys Boral's Building Products Arm for $2.2 Billion".{{cite web}}: CS1 maint: url-status (link)


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