On February 15, Westlake Chemical Corporation announced that it plans to officially change its name to Westlake Corporation on February 18, 2022
"Our business portfolio has grown over the past decade, especially as we celebrate our 35th anniversary in 2021," said Albert Chao, President and CEO of Westlake.
Driven by market trends, especially in rapidly expanding housing and infrastructure, through a combination of strategic acquisitions and organic growth, we have made significant progress in diversifying our business and broadening our product offering
With the name change, we will better represent the range of industries we serve, including housing and construction, automotive and consumer life>
The company has established two new reporting departments -The company has established two new reporting departments -
Residential and infrastructure products : including Westlake Royal Building Products, Westlake Pipe Fittings, Westlake Universal Complex and Westlake Dimes;Residential and Infrastructure Products :
Properties and main materials : Including West Lake America Vinyl, West Lake America Chlor-Alkali and its derivatives, West Lake Europe and Asia Vinyl Chloride, West Lake Olefin, West Lake Polyethylene and West Lake Epoxy
Westlake completed a series of acquisitions during 2021, including LASCO Fittings, LLC, a manufacturer of injection-molded PVC fittings; Dimex LLC, a post-industrial recycled plastic consumer and producer of building products; and Boral Limited's North American building products business, including roofing , siding, trim, shutters, outdoor living, decorative stone and windows
These acquisitions have significantly enhanced the company's position in the housing and infrastructure markets and greatly expanded its overall product offering
In addition, Westlake recently completed the acquisition of the global epoxy business of Hexion Corporation, a leading supplier of coatings and composites for high-growth applications such as wind turbine blades and lightweight automotive structural components
Westlake CorporationWestlake Corporation
is a multinational petrochemical and construction products manufacturer and supplier, established in 1986 and headquartered in Houston, Texas, USA
According to the 2021 list of the top 50 U.
chemical companies released by "American Chemical and Engineering News", Westlake Chemical's chemical sales in 2020 will be US$7.
5 billion, ranking ninth