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.
North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical (NYSE: WLK), will acquire LASCO Fittings, a leader in PVC fittings manufacturing. This transaction aims to enhance NAPCO's market presence, especially in smaller fittings, and cater to diverse markets such as plumbing and irrigation. LASCO operates a significant manufacturing facility in Brownsville, Tennessee, and has a strong distribution network. The acquisition is subject to customary regulatory approvals and expected to close in the second half of 2021.
Westlake Chemical Corporation (NYSE: WLK) has announced a definitive agreement to acquire Boral Industries Inc.'s North American building products businesses for $2.15 billion in cash. The acquisition, subject to regulatory clearance, is expected to enhance Westlake's market scale and product diversity while generating annual cost synergies of approximately $35 million. Boral’s businesses, employing about 4,600 employees across 29 sites, generated over $1 billion in revenue in the fiscal year ending June 30, 2020. The deal is expected to close in the second half of 2021.
Westlake Chemical's Water Treatment division has highlighted its role in a wastewater processing plant upgrade in Donora, Pennsylvania. The borough invested nearly $50 million in this project to enhance Combined Sewer Overflow (CSO) management, making it one of the first in the U.S. to comply with the Clean Water Act. The plant utilizes Westlake's Accu-Tab chlorination and CleanSlate dechlorination systems, known for their efficiency and reliability. This upgrade aims to significantly reduce storm sewage runoff and protect local waterways.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has announced a dividend of $0.2700 per share for Q1 2021. This dividend will be paid on June 9, 2021, to shareholders on record as of May 25, 2021. This marks the 67th consecutive quarterly dividend declared since the company’s IPO in August 2004.
Westlake Chemical Corporation (NYSE: WLK) reported a strong first quarter of 2021, with net income of $242 million, or $1.87 per diluted share, up from $145 million in Q1 2020. The increase was driven by higher sales prices and margins for polyethylene and PVC, boosted by robust demand in the construction and packaging sectors. However, challenges included increased maintenance expenses and higher feedstock costs attributed to a severe winter storm. EBITDA for the quarter reached $553 million, up from $337 million year-over-year.
Westlake Chemical Corporation (NYSE: WLK) is set to release its first quarter earnings for 2021 on May 4, 2021, before the market opens. A conference call will follow at 11:00 a.m. ET to discuss the results. Interested parties can join the call by dialing (855) 760-8160, and the call will also be available via webcast. A replay will be accessible for seven days after the event. Westlake, based in Houston, is a global manufacturer of materials for various sectors, including packaging, healthcare, and construction.
Westlake Chemical Corporation (NYSE: WLK) and the Ting Tsung and Wei Fong Chao Foundation have jointly contributed $100,000 to the Houston Harris County Winter Storm Relief Fund. This fund was created to provide emergency aid to those impacted by the February 2021 winter storm. Westlake's President and CEO, Albert Chao, emphasized the company's commitment to the Houston community, where it has operated for nearly 35 years. The company, headquartered in Houston, is a global supplier of materials for various essential industries.
Westlake Chemical Corporation (NYSE: WLK) reported a net income of $113 million for Q4 2020, a $41 million increase from Q4 2019. Revenue for the quarter was $1,965 million, driven by higher sales prices for polyethylene and PVC resin. However, lost sales due to hurricanes and increased maintenance costs impacted net income. For the full year 2020, net income was $330 million, down $91 million from 2019. The outlook for 2021 is positive, with expectations of continued demand growth in polyethylene and PVC, aided by rising housing starts.
The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) has declared a regular dividend of $0.2700 per share for Q4 2020. This dividend is set to be paid on March 16, 2021, to shareholders on record as of March 2, 2021. This marks the 66th consecutive quarterly dividend since the company’s IPO in August 2004, demonstrating strong shareholder returns and consistent financial performance.
Westlake Chemical Corporation (NYSE: WLK) will announce its fourth quarter and full-year earnings for 2020 on February 23, 2021, before market opening. A conference call is scheduled for 11:00 a.m. ET to discuss the results. The call can be accessed by dialing (855) 760-8160 or via webcast at this link. A replay will be available post-call for seven days. Westlake is known for its innovative materials that serve various industries, from packaging to construction.