Profile: Westlake Chemical Corp (WLK.N)
24 Feb 2017
Westlake Chemical Corporation, incorporated on September 3, 1991, is a vertically integrated global manufacturer and marketer of basic chemicals, vinyls, polymers and building products. The Company's products include a range of chemicals, which are fundamental to various diverse consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. The Company operates in two segments: Olefins and Vinyls. The Company is also an integrated producer of vinyls with substantial downstream integration into polyvinyl chloride (PVC) building products.
Olefins are the basic building blocks used to create a range of petrochemical products. The Company manufactures ethylene (through Westlake Chemical OpCo LP (OpCo)), polyethylene, styrene and associated co-products at its manufacturing facility in Lake Charles and polyethylene at its Longview facility. The Company has approximately two ethylene plants, which are owned by OpCo, approximately two polyethylene plants and one styrene monomer plant at its Lake Charles site. The Company has three polyethylene plants and a specialty polyethylene wax plant at its Longview site. OpCo has the capacity to produce approximately 2.7 billion pounds of ethylene per year at the Company's Lake Charles site. The Company produces styrene at its Lake Charles plant, where it has the capacity to produce approximately 570 million pounds of styrene per year, all of which is sold to external customers.
The Company, through OpCo, produces the ethylene required to produce its polyethylene, VCM and styrene. The Company owns an interest in an approximately 104-mile natural gas liquids pipeline from Mont Belvieu to the Company's Lake Charles site. OpCo owns an over 200-mile ethylene pipeline that runs from Mont Belvieu to its Longview site.
The Company competes with Chevron Phillips Chemical Company, The Dow Chemical Company, ExxonMobil Chemical Company, INEOS Group Limited, LyondellBasell Industries, N.V. and NOVA Chemicals Corporation.
The principal products in the Company's integrated Vinyls segment include PVC, VCM, ethylene dichloride (EDC), chlorine, caustic soda and, through OpCo, ethylene. The Company also manufactures and sells building products fabricated from PVC, including pipe, fittings, profiles, foundation building products, fence and deck components, window and door components, and film and sheet products. Its primary North American chemical manufacturing facilities are located in the Company's Calvert City and Geismar, Louisiana sites. Its Calvert City site includes an ethylene plant, which is owned by OpCo, a chlor-alkali plant, a VCM plant and a PVC plant. Its Geismar site includes a chlor-alkali plant, an EDC plant, a VCM plant and a PVC plant. Its European chemical manufacturing facilities are located in Germany and the United Kingdom, and include approximately two chlor-alkali plants, over two VCM plants and over six PVC plants. Its Asian manufacturing facility is located near Shanghai, in the People's Republic of China, and includes a PVC plant, a PVC film and sheet plant. It owns approximately 10 building product facilities. The combined capacity of its approximately 10 building products plants is approximately 1.3 billion pounds per year.
The Company competes with Formosa Plastics Corporation, Axiall Corporation, Oxy Chem, LP, Shintech, Inc., Mexichem, S.A.B. de C.V., INOVYN ChlorVinyls Limited, VYNOVA Group and Kem One Group SAS.
Westlake Chemical Corp
2801 Post Oak Blvd Ste 600
HOUSTON TX 77056-6110