Westlake Corporation reports news around its global materials and building-products operations, organized around Performance and Essential Materials and Housing and Infrastructure Products. Updates commonly cover earnings, segment pricing and volume trends, olefins, vinyl chemicals, polyethylene, epoxies, building products, pipe and fittings, facility actions, product certifications, distribution launches, litigation matters and leadership changes.
The company also appears in updates involving Westlake Royal Building Products, Westlake Epoxy and its relationship with Westlake Chemical Partners LP, a limited partnership formed by Westlake to operate, acquire and develop ethylene production facilities and other qualified assets.
Westlake (NYSE: WLK) announced that its European Epoxy business has received a 2024 Gold Medal from EcoVadis. This places Westlake Epoxy in the top 5% of the chemical industry for corporate social responsibility (CSR) performance. The evaluation by EcoVadis, a global leader in business sustainability ratings, assessed Westlake Epoxy across Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The company scored 75 out of 100 points, ranking in the 97th percentile among its peers. Dr. Karl-Martin Schellerer, Senior VP for Europe and Asia, emphasized the firm's commitment to sustainability and continuous improvement. Westlake Epoxy is a key producer in industries such as aerospace, automotive, and construction.
Westlake Royal Building Products (NYSE:WLK) will showcase its 'Be Boundless' campaign, new product innovations, and top industry trends at the Pacific Coast Builders Conference (PCBC) in Anaheim, CA on June 19-20, 2024. Featured brands include Eldorado Stone, Cultured Stone, DaVinci Roofscapes, and Celect Siding, among others.
The 'Be Boundless' campaign focuses on Innovation, Connection, and Expression. Key industry trends highlighted will be Design Versatility, High-Performance Products & Materials, and Innovative Industry Solutions.
New product highlights include Dutch Quality Stone’s new colorways, Eldorado Stone’s Rivenwood™, and advanced roofing solutions like DaVinci Roofscapes and Unified Steel Stone Coated Roofing. Additionally, the company will participate in the Wildfire Prepared Home demonstration, showcasing Unified Steel Coated Roofing and related components.
Westlake (NYSE: WLK) is hosting a teach-in today, focusing on its Housing and Infrastructure Products (HIP) businesses, starting at 9:00 AM Eastern Time. The event, concluding at around 1:00 PM, features presentations and a Q&A session with senior leadership, including President and CEO Albert Chao, EVP and CFO Steve Bender, and EVP Robert Buesinger. The key topics include the positive long-term demand for HIP, the diverse markets served by Westlake's brands, and the company's organic growth targets. Additionally, Westlake will present updated full-year 2024 guidance for HIP. The webcast and supporting materials can be accessed live and in replay at the company's investor relations website.
Westlake Royal Building Products™ (NYSE: WLK) will showcase its Be Boundless™ campaign, top industry trends, and new product innovations at the AIA Conference on Architecture & Design 2024 (AIA24) in Washington D.C., from June 5-8, 2024.
The exhibit will highlight their wide range of innovative products, including Celect® Cellular Composite Siding, Cedar Renditions™ aluminum siding, and TruExterior® Siding & Trim, among others.
The Be Boundless campaign focuses on Innovation, Connection, and Expression, providing limitless opportunities for builders and designers.
Key trends for 2024 include Design Versatility, High-Performance Products, and Innovative Industry Solutions to address labor shortages and delivery issues.
New product highlights include additions in siding, trim, and roofing, featuring advanced materials and innovative designs.
Westlake Chemical Partners (NYSE: WLKP) has released its 2023 investor tax reporting information. The Partnership will report items of international tax relevance on Schedule K-3 for the 2023 tax year. This information is important for certain unitholders, including foreign investors and those with US international reporting obligations. All income is effectively connected with a US trade or business. The Schedule K-3 details are now available online and are necessary for completing tax returns. Unitholders are advised to review this information and consult with their tax advisor.
Westlake Pipe & Fittings, a division of Westlake (NYSE: WLK), announced a significant investment in a new PVCO pipe plant at its Wichita Falls, Texas site. The 190,000 square-foot facility aims to enhance its product portfolio with advanced PVCO pipe manufacturing, first introduced in Canada in 2021. The expansion, leveraging the region's strategic U.S. location, demonstrates Westlake's commitment to growth, innovation, and job creation. The PVCO pipes offer superior strength, durability, and reduced environmental impact. Construction is set to begin by the end of 2024, with support from local government incentives.
Westlake Royal Building Products, a subsidiary of Westlake (NYSE:WLK), has introduced two new colors—Burntwood and Blonde Oak—to its Cedar Renditions aluminum siding line. These new colors provide a stained woodgrain appearance without the maintenance issues. Cedar Renditions offers various benefits such as being virtually maintenance-free, moisture-proof, easy to install, non-flammable, and capable of withstanding winds up to 200 mph. Made from durable and recyclable aluminum, the product is rust-resistant, water-resistant, cold-resistant, and insect-proof. Supported by a 25-year prorated warranty, Cedar Renditions is available through designated distributors in the US and Canada.
Westlake Pipe & Fittings has inaugurated a new distribution center in Lakeland, Florida, significantly bolstering its operational capabilities. The facility, spanning nearly 200,000 square feet with additional outdoor pipe storage, triples the company's storage capacity in the area. This strategic expansion helps consolidate operations from multiple sites, streamlining order fulfillment for customers across various market segments. The Lakeland center is part of a broader expansion plan, marking the fifth distribution center, with three more slated for 2024 and further growth anticipated in 2025.
Westlake (NYSE: WLK) declared a quarterly dividend of $0.50 per share for the first quarter of 2024. The dividend will be payable on June 6, 2024, to stockholders of record on May 21, 2024. This marks the 79th consecutive quarterly dividend since the company's IPO in 2004.
Westlake (NYSE: WLK) will showcase its sustainable solutions at NPE 2024, focusing on essential products for various sectors like healthcare, automotive, and food packaging. The company is committed to sustainability and delivering high-value products that enhance everyday life. Westlake will exhibit products like PVCO pipe, Pivotal™ Polyethylene, Pivotal™ PVC Compounds, and GreenVin™ bio-attributed PVC at the event.