Westlake Corporation (WLK) approved a plan to cease operations at its Cologne, Germany, PVC plant, with cessation expected in the first quarter of 2027. The plant has annual capacity of approximately 165,000 metric tons, and the closure is expected to reduce the workforce by approximately 120 employees. Westlake plans to continue supplying customers from its other German PVC facilities, including its Wilhelmshaven site.
Westlake estimates approximately $205 million in total pre-tax closure charges: approximately $105 million non-cash and $100 million cash. For 2026, it expects to recognize approximately $75 million of non-cash charges and $35 million of cash charges, with remaining charges expected in 2027; certain cash outflows are expected over several years. These estimates are provisional, and actual costs and timing may differ. Westlake also expects sequentially lower third-quarter 2026 financial performance than in the second quarter. The closure is expected to improve ongoing profitability of its European chlorovinyl operations.
WESTLAKE CORP (symbol: WLK) is the issuer of record for a Form 4 filing submitted to the SEC.
WESTLAKE CORP (WLK) filed an initial insider ownership report for Tommy Darby, who serves as Vice President and Chief Accounting Officer. The Form 3 identifies Darby as an officer of the company and reports no insider transactions or derivative positions in Westlake Corp securities in this filing.
Westlake Corporation (WLK) appointed Tommy E. Darby, age 45, as Vice President, Chief Accounting Officer, effective August 31, 2026. He was also appointed Vice President, Chief Accounting Officer of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP, effective the same date. Darby previously held senior accounting and finance roles at Pactiv Evergreen Inc. (now Novolex), Valaris plc (now Valaris Limited), and worked in audit and assurance at Deloitte LLP. He holds bachelor’s and master’s degrees in accounting from the University of North Texas and is a Certified Public Accountant. Darby replaces Jeffrey A. Holy, who will move to Vice President, Finance and Investor Relations. The company states there are no family relationships, related-party transactions, or appointment arrangements requiring additional disclosure.
Westlake Corp (WLK) director Jeffrey Wayne Sheets reported a grant of 2,184 Restricted Stock Units. These RSUs convert into Westlake common stock on a one-for-one basis and all are scheduled to vest on August 14, 2027. Following this award, Sheets directly holds 2,184 RSUs, each representing one underlying share of common stock.
WESTLAKE CORP director Carolyn Chao Sabat reported an equity compensation grant of 2,184 Restricted Stock Units. The RSUs were acquired at a stated price of $0.00 per unit as a grant and will convert into an equal number of shares of Common Stock on a one-for-one basis. All of these RSUs are scheduled to vest on August 14, 2027, at which point they will settle in common shares. Following this grant, Sabat holds 2,184 RSUs directly.
WESTLAKE CORP director Bhavesh V. Patel received a grant of 2,184 Restricted Stock Units on August 14, 2026. The RSUs convert into an equal number of shares of common stock on a one-for-one basis and will vest on August 14, 2027. Following this award, Patel holds 2,184 RSUs directly.
WESTLAKE CORP (WLK) director R Bruce Northcutt received a grant of 2,184 Restricted Stock Units. These RSUs convert into an equal number of the company’s common shares on a one-for-one basis and will fully vest on August 14, 2027, increasing his directly held equity-based compensation.
WESTLAKE CORP director Mark A. McCollum reported an equity compensation award of 2,184 Restricted Stock Units on August 14, 2026. These RSUs convert into an equal number of shares of common stock on a one-for-one basis and will fully vest on August 14, 2027. Following this grant, he holds 2,184 RSUs directly.
Lubel Kimberly S reported acquisition or exercise transactions in this Form 4 filing.
WESTLAKE CORP director Kimberly S. Lubel received a grant of 2,184 Restricted Stock Units representing an equivalent number of shares of common stock. These RSUs were awarded at $0.00 per unit and will vest on August 14, 2027. Following this grant, she holds 2,184 RSUs directly.