Westlake Corporation
 | |
| Formerly | Westlake Chemical Corporation |
|---|---|
| Company 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] |
3,050,000,000 United States dollar (2022)  | |
| 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
[edit]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 $2.2 billion.[10][11] In 2022, W. took over Hexion's epoxy division.[12]
Safety Incidents
[edit]In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured 6 workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a Shelter-in-place order.[13]
Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride.[14]
Westlake's operations in Calvert City, Kentucky, have faced scrutiny from regulators. In 2024, the U.S. Environmental Protection Agency announced findings from a long-term air monitoring study in the surrounding community, and determined emissions of ethylene dichloride were driving elevated cancer risk.[15] Westlake's Calvert City operations are the main source of ethylene dichloride emissions in the area, according to the EPA.
References
[edit]- ^ "Financial Statement" (PDF). Westlake. Retrieved 11 October 2023.
- ^ "Westlake Chemical". Fortune. Retrieved 2018-12-16.
- ^ Abram, Lynwood (16 March 2008). "Chao, pioneered petrochemical ventures around the world". Houston Chronicle. Retrieved 17 December 2018.
- ^ "ICIS Top 100 Chemical Companies: Westlake Chemical is the ICIS Company of the Year". ICIS. September 30, 2013.
- ^ "The World's Biggest Public Companies". Forbes.
- ^ Editorial, Reuters. "${Instrument_CompanyName} ${Instrument_Ric} Company Profile | Reuters.com". U.S. Retrieved 2019-08-06.
{{cite web}}:|first=has generic name (help) - ^ Larino, Jennifer (23 October 2014). "Westlake Chemical to spend $330 million on ethylene plant expansion in Sulphur". Times-Picayune. Retrieved 16 March 2015.
- ^ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
- ^ "Merger proves the right formula for Westlake Chemical - HoustonChronicle.com". www.houstonchronicle.com. 2018-06-07. Retrieved 2019-07-30.
- ^ 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". Bloomberg News.
- ^ "Westlake Chemical completes Hexion epoxy business acquisition". CompositesWorld, published 2/4/2022.
- ^ Askelson, Kristin (26 January 2022). "At least six people injured in Westlake Chemical plant explosion". The Acadiana Advocate. Retrieved 27 February 2022.
- ^ 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.
- ^ 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)
External links
[edit]- Official website
- Business data for Westlake Corporation:
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