Westlake Chemical Corp. Changes Name to Westlake Corp.
HOUSTON — Westlake Chemical Corp. announced that it has officially changed its name to Westlake Corp. Westlake is now organized under one unified brand name with two financial reporting segments: Housing & Infrastructure Products and Performance & Essential Materials.
“We have reached an important milestone in the history of our company,” said Westlake President and Chief Executive Officer Albert Chao. “Our business portfolio has evolved over the last decade, particularly in the last year when we celebrated our 35th anniversary. Through a combination of strategic acquisitions and organic growth that has been fueled by market trends, particularly in the rapidly expanding housing and infrastructure sector, we have made significant progress in diversifying our businesses and broadening our product offering. By changing our name, we will better represent the breadth of industries we serve, including housing and construction, automotive and consumer lifestyle, packaging and healthcare.”
Westlake completed a series of acquisitions during 2021, including LASCO Fittings LLC, a manufacturer of injection-molded PVC fittings; Dimex LLC, a producer of post-industrial recycled plastic consumer and building products; and Boral Limited’s North American building products businesses, which include roofing, siding, trim, shutters, outdoor living products, decorative stone and windows. In addition, Westlake recently closed the acquisition of the global epoxy business of Hexion Inc.
The company’s two newly established reporting segments replace the former segments, Olefins and Vinyls. Housing & Infrastructure Products includes Westlake Royal Building Products, Westlake Pipe & Fittings, Westlake Global Compounds, and Westlake Dimex. Performance & Essential Materials includes Westlake North American Vinyls, Westlake North American Chlor-alkali & Derivatives, Westlake European & Asian Chlorovinyls, Westlake Olefins, Westlake Polyethylene, and Westlake Epoxy.
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