Westlake Chemical Corporation Withdraws Proposal To Acquire Georgia Gulf Corporation

Westlake Chemical Corporation announced that following acquisition discussions with Georgia Gulf's management under the terms of a confidentiality agreement, it notified Georgia Gulf that Westlake has withdrawn its proposal to acquire all of the outstanding shares of common stock of Georgia Gulf Corporation and does not intend to continue to pursue a transaction with Georgia Gulf. The Company also stated that it plans to liquidate its holdings of Georgia Gulf common stock as market conditions permit.