Westlake Chemical Resolves Dispute With Royal Group, Enters Into New Agreement With Georgia Gulf
HOUSTON, Oct. 4 /PRNewswire-FirstCall/ -- Westlake Chemical Corporation (NYSE: WLK) announced today that it has concluded an agreement with Georgia Gulf Corporation (NYSE: GGC) to supply vinyl chloride monomer (VCM) to Georgia Gulf.
This new agreement between Westlake and Georgia Gulf replaces a prior contract that Westlake had with a subsidiary of Royal Group Technologies Ltd., which Georgia Gulf acquired yesterday. The new agreement also terminates litigation pending in court in Toronto, Ontario, that arose in March 2006 between Westlake and Royal regarding the prior contract.
Albert Chao, President and Chief Executive Officer of Westlake, said, "We are pleased to end this lawsuit and enter into a constructive commercial arrangement and good relationship with Georgia Gulf."
The statements in this release relating to the new contract with Georgia Gulf, as well as any other matters that are not historical facts, are forward- looking statements that are subject to risks and uncertainties. Actual results could differ materially. For more detailed information about factors that could cause actual results to differ materially, please refer to Westlake's Annual Report on Form 10-K for the year ended December 31, 2005, which was filed in February 2006.
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and fabricated products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC and PVC pipe, windows and fence. For more information, visit the company's Web site at http://www.westlakechemical.com .
SOURCE Westlake Chemical Corporation CONTACT: Media Relations - David R. HansenInvestor Relations - Steven Bender both of Westlake Chemical Corporation, +1-713-960-9111 Web site: http://www.westlakechemical.com