Company:Westlake Chemical
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| Type | Public |
|---|---|
| NYSE: WLK Russell 1000 Component | |
| Industry | Chemicals, Petrochemicals |
| Founded | 1986 |
| Founder | Ting Tsung Chao |
| Headquarters | Houston, Texas |
Key people | Albert Chao (President and CEO) |
| Revenue |  US$ 8.6350 billion[1] |
 US$996.0 million (2018) | US$1,304 million (2017)[2] | |
| Total assets | US$11,602 million (2018) | US$12,076 million (2017)[3] |
Number of employees | 8,870 [4] (2018) |
| Website | westlake.com |
Westlake Chemical is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets.[5] The company was founded by Ting Tsung Chao in 1986.[6] it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000.[7][8] Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products.[9]
Facilities
In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana.[10] In 2014, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.[11]
In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.[12]
In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion[13][14]
Safety Incidents
In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured 6 workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a Shelter-in-place order.[15]
Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.[16]
References
- ↑ "Revenues". Fortune. https://fortune.com/fortune500/2019/westlake-chemical. Retrieved 30 July 2019.
- ↑ "Net income". Fortune. https://fortune.com/fortune500/2019/westlake-chemical. Retrieved 30 July 2019.
- ↑ "Assets". Fortune. https://fortune.com/fortune500/2019/westlake-chemical. Retrieved 30 July 2019.
- ↑ "Westlake Chemical". http://fortune.com/fortune500/westlake-chemical/.
- ↑ "Westlake Chemical". http://fortune.com/fortune500/westlake-chemical/.
- ↑ Abram, Lynwood (16 March 2008). "Chao, pioneered petrochemical ventures around the world". Houston Chronicle. https://www.chron.com/news/houston-deaths/article/Chao-pioneered-petrochemical-ventures-around-the-1785030.php.
- ↑ "ICIS Top 100 Chemical Companies: Westlake Chemical is the ICIS Company of the Year". ICIS. September 30, 2013. http://www.icis.com/resources/news/2013/09/30/9710134/icis-top-100-chemical-companies-westlake-chemical-is-the-icis-company-of-the-year/.
- ↑ "The World’s Biggest Public Companies". https://www.forbes.com/companies/westlake-chemical/.
- ↑ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile | Reuters.com" (in en). https://www.reuters.com/finance/stocks/company-profile/WLK.
- ↑ Larino, Jennifer (23 October 2014). "Westlake Chemical to spend $330 million on ethylene plant expansion in Sulphur". Times-Picayune. http://www.nola.com/business/index.ssf/2014/10/westlake_chemical_to_spend_330.html. Retrieved 16 March 2015.
- ↑ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com" (in en-US). 2018-06-07. https://www.houstonchronicle.com/business/energy/article/Merger-proves-the-right-formula-for-Westlake-12974801.php.
- ↑ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com" (in en-US). 2018-06-07. https://www.houstonchronicle.com/business/energy/article/Merger-proves-the-right-formula-for-Westlake-12974801.php.
- ↑ Boral agrees to sell its North American building products business Boral June 21, 2021
- ↑ "Westlake Buys Boral's Building Products Arm for $2.2 Billion". https://www.bloomberg.com/news/articles/2021-06-21/westlake-buys-boral-s-building-products-unit-for-2-15-billion.
- ↑ Askelson, Kristin (26 January 2022). "At least six people injured in Westlake Chemical plant explosion". The Acadiana Advocate. https://www.theadvocate.com/acadiana/news/courts/article_30145d3e-8138-11ec-9cf8-2f2ea8e3a125.html.
- ↑ Mitchell, David (10 March 2019). "A detailed look at Westlake Chemical plant in Geismar's string of accidental leaks". The Acadiana Advocate. https://www.theadvocate.com/baton_rouge/news/article_44881b3a-4288-11e9-917f-93f15a412eff.html.
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