Westlake Chemical Celebrates 20th Anniversary
HOUSTON, Sept. 12 /PRNewswire-FirstCall/ -- Westlake Chemical Corporation (NYSE: WLK), the Houston-based international manufacturer and supplier of petrochemicals, polymers and fabricated products, is recognizing its 20th year of business with celebrations at all of its locations beginning today. In addition, the company's operating units will commemorate the anniversary with their local communities, including a "Westlake Community Service Day" at each location where employees will participate in a community service project.
Albert Chao, President and CEO of Westlake Chemical Corporation said regarding the anniversary, "As we celebrate 20 years of business success, we want to give back to the communities where we work and live. We are looking forward to further growth in the years ahead, providing a good place to work, creating the building blocks for products that consumers need and contributing to the communities in which we operate."
Westlake's 20 years of growth
In 1986, following three decades of success in Asia, the Chao Group entered the U.S. market and began producing polyethylene at its first plant in Lake Charles, La., on Sept. 12. From that beginning Westlake has grown to 14 operating sites with 13 facilities in the U.S., an operation in Alberta, Canada, and a joint venture in Suzhou, China. Westlake founder T.T. Chao's two sons, James and Albert Chao, lead the company today as chairman and president & chief executive office, respectively.
In August 2004, Westlake became a public company that now employs approximately 2,200 and produces 10 billion pounds of products annually with over $2.5b in annual revenue. The company's operations are divided into the vinyls and olefins business segments. The vinyl segment's products include vinyl chloride monomer (VCM), caustic soda, polyvinyl chloride (PVC), and an array of downstream PVC fabricated products such as PVC pipe, fence, window, door and decking components, garden accessories and PVC film. The olefin segment produces and markets ethylene, styrene, propylene, low density polyethylene (LDPE), high density polyethylene (HDPE) and linear low density polyethylene (LLDPE). In addition to producing and marketing products under the Westlake Chemical Corporation name the PVC pipe products are sold through the North American Pipe Company subsidiary and the other PVC components are manufactured and marketed through Westech Building Products.
SOURCE: Westlake Chemical Corporation CONTACT: David R. Hansen, Media RelationsSteven Bender, Investor Relationsboth of Westlake Chemical Corporation, +1-713-960-9111 Web site: http://www.westlakechemical.com