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Westlake Corporation

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(Redirected from Westlake Chemical) American petrochemical company
Westlake Corporation
FormerlyWestlake Chemical Corporation
Company typePublic company
Traded as
Industry
Founded1986; 39 years ago (1986)
FounderTing Tsung Chao
HeadquartersHouston, Texas, U.S.
Key peopleAlbert Chao
(President and CEO)
RevenueIncrease US$15.794 billion (2022)
Operating income3,050,000,000 United States dollar (2022) Edit this on Wikidata
Net incomeIncrease US$2.247 billion (2022)
Total assetsIncrease US$20.550 billion (2022)
Total equityIncrease US$10.465 billion (2022)
Number of employees15,920 (December 31, 2022)
Websitewestlake.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. The company was founded by Ting Tsung Chao in 1986. it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000. 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.

Facilities

In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana. In 2014, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit.

In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion.

In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion. In 2022, W. took over Hexion's epoxy division.

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.

Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.

Westlake's operations in Calvert City, Kentucky, have faced scrutiny from regulators. In 2024, the U.S. Environmental Protection Agency (EPA) announced findings from a long-term air monitoring study in the surrounding community, and determined emissions of ethylene dichloride were driving elevated cancer risk. Westlake's Calvert City operations are the main source of ethylene dichloride emissions in the area, according to the EPA.

References

  1. "Financial Statement" (PDF). Westlake. Retrieved 11 October 2023.
  2. "Westlake Chemical". Fortune. Retrieved 2018-12-16.
  3. Abram, Lynwood (16 March 2008). "Chao, pioneered petrochemical ventures around the world". Houston Chronicle. Retrieved 17 December 2018.
  4. "ICIS Top 100 Chemical Companies: Westlake Chemical is the ICIS Company of the Year". ICIS. September 30, 2013.
  5. "The World's Biggest Public Companies". Forbes.
  6. Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile | Reuters.com". U.S. Retrieved 2019-08-06. {{cite web}}: |first= has generic name (help)
  7. Larino, Jennifer (23 October 2014). "Westlake Chemical to spend $330 million on ethylene plant expansion in Sulphur". Times-Picayune. Retrieved 16 March 2015.
  8. "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
  9. "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
  10. Boral agrees to sell its North American building products business Boral June 21, 2021
  11. "Westlake Buys Boral's Building Products Arm for $2.2 Billion". Bloomberg News.
  12. "Westlake Chemical completes Hexion epoxy business acquisition". CompositesWorld, published 2/4/2022.
  13. Askelson, Kristin (26 January 2022). "At least six people injured in Westlake Chemical plant explosion". The Acadiana Advocate. Retrieved 27 February 2022.
  14. Mitchell, David (10 March 2019). "A detailed look at Westlake Chemical plant in Geismar's string of accidental leaks". The Acadiana Advocate. Retrieved 27 February 2022.
  15. US EPA, REG 04 (2024-01-05). "Calvert City, Kentucky Air Monitoring". www.epa.gov. Retrieved 2024-11-28.{{cite web}}: CS1 maint: numeric names: authors list (link)

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