WESTLAKE CORPORATION Stock Price, News & Analysis

Westlake Chemical Corporation (NYSE: WLK) is set to release its fourth quarter and full year earnings for 2021 on February 22, 2022, before market opening. A conference call will follow at 11:00 a.m. Eastern Time to discuss the results. Callers can dial (855) 760-8160 or (704) 288-0624 for international access, using passcode 8356311. The call will also be accessible via webcast. A replay will be available for seven days after the call concludes. For more details, visit Westlake's investor page.

Westlake Chemical Partners (NYSE: WLKP) is set to release its fourth quarter and full-year earnings for 2021 on February 22, 2022, before the market opens. A conference call will follow at 1:00 p.m. Eastern Time to discuss results. Interested parties can join by calling (855) 765-5686 or accessing the webcast here. The partnership operates ethylene production facilities and holds a 22.8% stake in Westlake Chemical OpCo LP, which has facilities in Kentucky and Louisiana.

Westlake Royal Building Products has officially launched, merging the portfolios of Royal Building Products, Boral North America, and DaVinci Roofscapes. This new brand introduces a diverse range of products including siding, roofing, and windows, marking a significant expansion for the company. The brand will debut at major trade shows in February 2022, showcasing its innovative offerings to architects and builders across North America. The launch represents over two years of strategic acquisition efforts aimed at enhancing growth and market presence.

The Board of Directors of Westlake Chemical Partners LP has declared a quarterly distribution of $0.4714 per unit, marking the 30th such distribution since the Partnership's IPO. This distribution is set to be payable on February 17, 2022, to unit holders of record as of February 3, 2022. Notably, the Partnership is subject to federal income tax withholding for non-U.S. investors at the highest applicable rate. Westlake Chemical Partners operates ethylene production facilities and holds a 22.8% interest in Westlake Chemical OpCo LP.

Hexion Holdings has entered into an agreement to be acquired by American Securities LLC for $30.00 per share in cash. The transaction is set to close in the first half of 2022 pending the completion of Hexion's sale of its epoxy business to Westlake Chemical Corporation (NYSE: WLK). Hexion's net sales for 2020 were $2.5 billion, projected to be $1.4 billion post-epoxy sale. The purchase price offers a 15% premium based on closing prices as of December 17, 2021, and 53% compared to July 30, 2021. A majority of shareholders support the acquisition.

Westlake Chemical Corporation (NYSE: WLK) subsidiary, North American Pipe Corporation (NAPCO), unveils a new product, molecular oriented PVC (PVCO) pipe, boasting a lower carbon footprint than prior offerings. This initiative expands NAPCO’s production capacity at its Woodbridge, Ontario facility. The innovative PVCO pipe promises improved material strength, flow capacity, and impact performance relative to traditional C900 products while adhering to AWWA C909 standards. NAPCO is ramping up inventory in anticipation of the upcoming construction season in Canada.

Hexion Holdings Corporation announced a definitive agreement to sell its epoxy-based Coatings and Composite businesses for approximately $1.2 billion to Westlake Chemical Corporation (NYSE: WLK). The business, generating $1.5 billion in sales over the past year, includes 1,300 employees and 8 manufacturing sites globally. Proceeds from the sale will be utilized to reduce debt and reinvest in operations. The transaction is expected to close in the first half of 2022, pending regulatory approvals.

Westlake Chemical Corporation (NYSE: WLK) has announced a definitive agreement to acquire Hexion Inc.'s global epoxy business for approximately $1.2 billion. This acquisition aims to enhance Westlake's chemicals portfolio by integrating Hexion's specialty resins, coatings, and composites, which generated $1.5 billion in net sales in the last 12 months ending September 30, 2021. The deal is expected to close in the first half of 2022, significantly expanding Westlake's integrated business in sustainable manufacturing for industries like automotive and renewable energy.

Westlake Chemical Corporation (NYSE: WLK) has announced the launch of GreenVin™ Polyvinyl Chloride (PVC) through its Vinnolit subsidiary in Germany. This lower-carbon PVC product aims to meet rising market demand for sustainable materials, saving approximately 25% in carbon dioxide emissions compared to traditional PVC. The initiative follows the earlier introduction of lower carbon caustic soda in February 2021. GreenVin™ supports Westlake's broader commitment to sustainability and environmentally friendly practices in chemical production.