Westlake Chemical Corporation Closes Purchase of the Net Assets of Bristolpipe
Bristolpipe Corporation, headquartered in Elkhart, Indiana, produced PVC pipe products for a wide range of applications including domestic and commercial drainage, waste, and venting; underground water; sewer pipe and telecommunications cable ducting and is a leading supplier in markets east of the Mississippi. Bristolpipe Corporation reported revenues of approximately $114 million for calendar year 2003. They employed approximately 200 employees and operated three manufacturing plants located in Indiana, Pennsylvania and Georgia.
Westlake will continue to operate the three newly acquired plants and has offered continued employment to the majority of the employees at each site. This acquisition brings the total number of PVC pipe plants operated by Westlake's subsidiary, North American Pipe Corporation, to eight. North American Pipe currently operates facilities in Texas, Arkansas, Mississippi, Kentucky and Illinois. Mike Powell, Bristolpipe's former President, has joined North American Pipe Corporation as Vice President and General Manager and will lead the subsidiary's activities from the Houston headquarters.
Albert Chao, President and CEO of Westlake Chemical Corporation, stated, "We are pleased to welcome the former Bristolpipe employees to the North American Pipe team. The acquisition of these three plants has given us an increased presence in the PVC pipe market and will allow us to continue to enhance our ability to meet our customers' needs and to offer a wider array of products and services."
Westlake Chemical Corporation is a vertically integrated international manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas. The company's range of products includes ethylene, polyethylene, styrene, vinyl intermediates, PVC and PVC pipe and PVC windows, fence and decking components.
Contact: D. R. Hansen - Houston 713-960-9111