Westlake Chemical Corporation Issues Statement on Hurricane Ida

Westlake Chemical Corporation (NYSE: WLK) addressed the impact of Hurricane Ida on its operations in Louisiana and Mississippi.

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Very Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Tags

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

08/31/2021 - 07:40 PM

HOUSTON--(BUSINESS WIRE)-- Westlake Chemical Corporation (NYSE: WLK) today issued a statement regarding Hurricane Ida, which made landfall near its plants in Louisiana and Mississippi.

Westlake’s primary concern is for the safety of our employees and the communities in which we operate. We are working to assist our employees and their families as needed.

Following initial facility assessments, Westlake believes it has incurred limited physical damage. Restart of the facilities, which Westlake shut down as a precautionary measure in advance of the storm, will primarily depend upon the availability of electricity, industrial gases, and other utilities and feedstocks.

The statements in this release relating to matters that are not historical facts, such as Westlake’s belief that it has incurred limited physical damage and the anticipated restart of its facilities, are forward-looking statements. These forward-looking statements could be adversely affected by a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. Westlake’s expectations may or may not be realized or may be based upon assumptions or judgments that prove to be incorrect. For more detailed information about the factors that could cause actual results to differ materially from the forward-looking statements contained herein, please refer to Westlake’s Annual Report on Form 10-K for the year ended December 31, 2020, which was filed with the SEC in February 2021, and Westlake’s Report on Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC in August 2021.

About Westlake

Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company's web site at www.westlake.com.