Company:Westlake Corporation
Formerly | Westlake Chemical Corporation |
---|---|
Type | Public company |
Industry |
|
Founded | 1986 |
Founder | Ting Tsung Chao |
Headquarters | Houston, Texas, U.S. |
Key people | Albert Chao (President and CEO) |
Revenue | US$15.794 billion (2022)[1] |
US$2.247 billion (2022) | |
Total assets | US$20.550 billion (2022) |
Total equity | US$10.465 billion (2022) |
Number of employees | 15,920 (December 31, 2022) |
Website | westlake.com |
Westlake Corporation is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets.[2] The company was founded by Ting Tsung Chao in 1986.[3] it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000.[4][5] 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.[6]
Facilities
In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana.[7] In 2014, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.[8]
In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.[9]
In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion[10][11]
Safety Incidents
In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured 6 workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a Shelter-in-place order.[12]
Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.[13]
References
- ↑ "Financial Statement". Westlake. https://s26.q4cdn.com/761341895/files/doc_financials/2022/ar/WLK-AR-BMK1.pdf. Retrieved 11 October 2023.
- ↑ "Westlake Chemical". http://fortune.com/fortune500/westlake-chemical/.
- ↑ Abram, Lynwood (16 March 2008). "Chao, pioneered petrochemical ventures around the world". Houston Chronicle. https://www.chron.com/news/houston-deaths/article/Chao-pioneered-petrochemical-ventures-around-the-1785030.php.
- ↑ "ICIS Top 100 Chemical Companies: Westlake Chemical is the ICIS Company of the Year". ICIS. September 30, 2013. http://www.icis.com/resources/news/2013/09/30/9710134/icis-top-100-chemical-companies-westlake-chemical-is-the-icis-company-of-the-year/.
- ↑ "The World's Biggest Public Companies". https://www.forbes.com/companies/westlake-chemical/.
- ↑ Editorial, Reuters. "${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.
External links
- Official website
- Business data for Westlake Corporation:
Original source: https://en.wikipedia.org/wiki/Westlake Corporation.
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