Welcome to our dedicated page for Westlake Chem Partners Lp news (Ticker: WLKP), a resource for investors and traders seeking the latest updates and insights on Westlake Chem Partners Lp stock.
Westlake Chemical Partners LP (WLKP) is a key player in ethylene production and chemical processing, operating critical facilities across the United States. This page serves as the definitive source for official company announcements, financial updates, and strategic developments impacting the petrochemical sector.
Investors and industry professionals will find timely updates on earnings reports, facility expansions, operational milestones, and partnerships. Our curated collection includes press releases on ethylene production innovations, co-product utilization, and market positioning within the competitive chemical landscape.
Key coverage areas include quarterly financial results, infrastructure investments, environmental initiatives, and supply chain developments. All content is verified through primary sources to ensure accuracy and relevance for decision-makers.
Bookmark this page to monitor WLKP's progress in optimizing ethane-to-ethylene conversion processes and maintaining its role as a vital contributor to industrial chemical supply chains.
Westlake Chemical Partners GP , the general partner of Westlake Chemical Partners LP (NYSE: WLKP), has announced a significant leadership change. Jean-Marc Gilson, former President and CEO of Mitsubishi Chemical Group , has been appointed as the new President, CEO, and Board member of Westlake Chemical Partners GP
This succession plan involves Albert Chao transitioning to Executive Chairman of the Board, while James Chao becomes Senior Chairman of the Board. These appointments are effective immediately. The change is part of a carefully planned succession strategy aimed at positioning Westlake Chemical Partners for future growth and continued long-term value creation.
Westlake (NYSE: WLK) has announced a significant leadership transition. Jean-Marc Gilson, former President and CEO of Mitsubishi Chemical Group , has been appointed as the new President and CEO of Westlake, effective immediately. This marks a historic moment as Gilson becomes the first non-family CEO in the company's history.
Albert Chao, who has served as CEO for the past 20 years, will transition to the role of Executive Chairman of the Westlake Board of Directors. James Chao, the current Chairman of the Board, will assume the position of Senior Chairman. This carefully planned succession aims to position Westlake for future growth while maintaining its family culture of long-term value creation.
Gilson brings 25 years of executive experience in the chemicals industry across the United States, Europe, and Asia. He will also serve as President, CEO, and director of Westlake Chemical Partners GP , the general partner of Westlake Chemical Partners LP (NYSE: WLKP).
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 Chemical Partners LP (WLKP) reported net income of $14.8 million for Q1 2024, in-line with Q1 2023. Cash flows decreased to $104.6 million due to working capital changes. MLP distributable cash flow was $16.9 million, down $0.7 million from Q1 2023. Despite lower production and sales volume, net income saw a slight increase from Q4 2023. The quarterly distribution of $0.4714 per unit was declared, marking the 39th consecutive distribution. The partnership remains optimistic for 2024, citing stable demand for ethylene derivative products and favorable margins.
Westlake Chemical Partners LP announced a distribution of $0.4714 per unit payable on May 29, 2024, marking its 39th quarterly distribution since going public. The distribution is subject to federal income tax withholding for non-U.S. investors.
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