Welcome to our dedicated page for WESTLAKE CORPORATION news (Ticker: WLK), a resource for investors and traders seeking the latest updates and insights on WESTLAKE CORPORATION stock.
Westlake Corporation (NYSE: WLK) generates a steady flow of news related to its role as a global manufacturer and supplier of materials and products for housing and construction, packaging, healthcare, automotive and consumer goods. Headquartered in Houston with operations in Asia, Europe and North America, the company issues updates on its chemicals and polymers activities, housing and infrastructure products, capital markets transactions and strategic initiatives.
News about Westlake often covers developments in its Housing & Infrastructure Products business, including Westlake Royal Building Products and Westlake Royal Roofing Solutions. Recent announcements highlight participation in industry events such as the International Roofing Expo, where Westlake Royal showcases roofing brands like Newpoint Concrete Roof Tile, DaVinci Roofscapes, US Tile clay roofing products, Unified Steel stone coated roofing and Westlake Royal Roofing Components. These stories describe new roofing colors and profiles, system enhancements, installation clinics and product demonstrations for contractors and building professionals.
Investors and industry followers will also find coverage of acquisitions and portfolio expansion. Westlake has announced and completed the acquisition of the global compounding solutions businesses of the ACI/Perplastic Group, a global manufacturer of specialty materials primarily serving the wire and cable sectors. News items explain how this transaction strengthens Westlake Global Compounds and extends its manufacturing footprint into Portugal, Romania and Tunisia, alongside existing operations in Mexico.
Additional news topics include capital markets actions such as senior notes offerings and cash tender offers for existing debt, dividend declarations, and operational updates like plans to rationalize certain North American chlorovinyl and styrene assets. For those tracking WLK, this page brings together company press releases and related coverage in one place, helping readers follow developments in Westlake’s materials, polymers and building products businesses over time.
Westlake Chemical Partners LP (NYSE: WLKP) announced a quarterly distribution of $0.4714 per unit, marking the 29th consecutive distribution. In Q3 2021, net income decreased to $12.8 million, down from $18.5 million in Q3 2020, primarily due to reduced sales and planned production outages. Cash flows from operating activities dropped to $99.5 million, down $17.7 million year-over-year. The Partnership reports a trailing twelve-month MLP distributable cash flow coverage of 1.06x. The CEO expressed confidence in future cash flows and market demand for their products.
Westlake Chemical Corporation (NYSE: WLK) announced record quarterly results for Q3 2021, reporting net sales of $3.1 billion and net income of $607 million, marking a significant increase from $57 million in Q3 2020. EBITDA reached a record $1.1 billion, driven by higher sales prices and strong demand in both the Vinyls and Olefins segments. The company completed acquisitions of Boral North America, Dimex LLC, and LASCO Fittings, expanding its footprint in sustainable building products. Cash provided by operations was $755 million, while long-term debt stood at $5.2 billion.
The Board of Directors of Westlake Chemical Partners GP LLC has declared a distribution of $0.4714 per unit, payable on November 29, 2021, to unit holders of record as of November 12, 2021. This marks the 29th consecutive quarterly distribution since the Partnership's IPO. Non-U.S. investors should note that distributions are subject to federal income tax withholding. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Chemical Corporation (NYSE: WLK) will release its third quarter earnings for 2021 on November 2, 2021, before market opening. A conference call is scheduled for 11:00 a.m. Eastern Time to discuss these earnings. Investors can join via phone or access the webcast through the company’s website. A replay of the call will be available for seven days. Westlake is known for manufacturing and supplying materials that contribute to various industries, including packaging, healthcare, automotive, and construction.
Westlake Chemical Partners (NYSE: WLKP) is set to release its third quarter earnings for 2021 on Tuesday, November 2, 2021, before the market opens. A conference call will follow at 12:00 p.m. ET to discuss the earnings. Interested participants can join the call by dialing (855) 765-5686, or via webcast. Westlake Chemical Partners, headquartered in Houston, holds a 22.8% interest in Westlake Chemical OpCo LP, which operates multiple ethylene production facilities.
Westlake Innovations, a subsidiary of Westlake Chemical (NYSE: WLK), has partnered with Nexii Building Solutions to promote sustainable construction practices. As the preferred supplier, Westlake will provide building materials like siding and roofing for Nexii's eco-friendly projects. This alliance aligns with Westlake's commitment to environmental sustainability, further bolstered by its recent acquisitions of Dimex and Boral's North American building products divisions. Nexii's innovative Nexiite material enables faster construction and minimizes onsite waste, making it a significant player in green building technology.
Westlake Chemical Corporation (NYSE: WLK) announced the completion of its acquisition of Boral Limited’s North American building products businesses for
Westlake Chemical Corporation (NYSE: WLK) has donated $250,000 to the Capital Area United Way’s Hurricane Ida Relief Fund in Baton Rouge, Louisiana. This fund aims to support victims from the storm in ten surrounding parishes. CEO Albert Chao expressed solidarity with the affected community, noting approximately 1,000 employees in the region. In addition to the financial aid, the company is providing assistance to employees and their families impacted by the hurricane.
Grey Mountain Partners has sold Dimex LLC to Westlake Chemical Corporation (NYSE: WLK). Since partnering with Dimex in December 2013, Grey Mountain aimed to enhance its manufacturing capabilities and product range, including landscape edging and marine dock edging. Dimex is recognized as a sustainable manufacturer serving diverse markets for over 30 years. With a dedicated management team and over 300 employees, Dimex has emphasized high-quality production and customer service. William Blair & Company acted as the exclusive financial advisor for this transaction.
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