Westlake Contributes to Houston Harris County Winter Storm Relief Fund
Westlake Chemical Corporation (NYSE: WLK) today announced that the company and the Ting Tsung and Wei Fong Chao Foundation have contributed a combined $100,000 to the Houston Harris County Winter Storm Relief Fund. The Houston Harris County Winter Storm Relief Fund was established by the City of Houston and Harris County in conjunction with the United Way of Greater Houston and the Greater Houston Community Foundation to provide emergency assistance for individuals adversely affected by the February 2021 winter storm. “As part of the Houston community, which has been Westlake’s home for more than 35 years, we feel it is a privilege to help in this time of need,” said Westlake President and CEO Albert Chao, who is a board member of the charitable foundation established in 1999 by the Chao family. About Westlake Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for
Vinnolit, a Westlake company, will launch climate-friendly "green” caustic soda in 2021. This product will enable customers to reduce their own carbon footprint and in turn develop more climate-friendly products.
Ismaning / Gendorf / Knapsack – Caustic soda is an important base chemical, of which more than nine million tons are needed per year in Europe alone. From 2021, the PVC and caustic soda manufacturer Vinnolit will offer certified climate-friendly caustic soda utilizing renewable energy Guarantees of Origin (GOs). The CO2 footprint of this low-carbon caustic soda from the Gendorf and Knapsack (Hürth) sites - which is introduced to the market under the brand name GreenVin - is reduced by more than 30% compared to conventional Vinnolit caustic soda. The CO2 footprint taken as a basis was calculated by sustainable AG in accordance with the ISO 14067 standard. Review and certification are carried out by TÜV Rheinland.
"We pay special attention to the quality of the renewable energy certificates through recognized additional labels. These guarantee the purchase of 100% renewable energy, excluding publicly subsidized plants, as well as the application of additional ecological criteria, such as the promotion of new green power plants as well as innovative energy transition projects," says Jürgen Luderer, Vinnolit Director Sales. "In this way, we want to contribute to a steering effect towards the energy transition."
Focus on sustainability
Vinnolit has been producing caustic soda in chlor-alkali electrolysis exclusively with the energy-saving and environmentally friendly membrane process since 2009. Since the central process step is electrified, power from renewable sources can be used to save CO2 emissions by displacing fossil fuels.
"Vinnolit is clearly committed to climate protection and supports the European political ambition of greenhouse gas-neutral chemical production by 2050," says Managing Director Dr. Karl-Martin Schellerer. "With the product launch of climate-friendly low-carbon caustic soda, we are supporting the energy transition and the fight against climate change. At the same time, we are supporting our caustic soda customers in achieving their own sustainability goals and in turn offering more climate-friendly products. Chlor-alkali electrolysis offers great potential here, also with regard to green hydrogen to support environmentally friendly mobility solutions. This complements our commitment to VinylPlus®, the European PVC industry's voluntary commitment that focuses on the sustainable development of the plastic PVC."
Vinnolit markets the climate-friendly caustic soda under the brand name GreenVin.
Westlake Chemical Partners LP Filed Annual Report
Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") announced that it filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 with the Securities and Exchange Commission on March 2, 2021. A copy of this 10-K may be found on the Partnership's website, www.wlkpartners.com , by selecting the "Investor Relations" tab, then "SEC 10-K Filings." Unitholders of the Partnership may receive a hard copy of its Annual Report on Form 10-K, including complete audited financial statements, free of charge. Requests should be submitted in writing to Westlake Chemical Partners LP – 2019 Form 10-K, 2801 Post Oak Blvd., Suite 600, Houston, TX 77056. About Westlake Chemical Partners LP Westlake Chemical Partners is a limited partnership formed by Westlake Chemical Corporation to operate, acquire and develop ethylene production facilities and other qualified assets. Headquartered in Houston, the Partnership owns a 22.8% interest in Westlake Chemical OpCo LP. Westlake
Westlake Chemical Corporation Reports Fourth Quarter and Full Year 2020 Results
Fourth quarter 2020 net income increased $41 million, or 57%, over fourth quarter 2019 Westlake Chemical Corporation (NYSE: WLK) (the "Company" or "Westlake") today reported net income attributable to Westlake for the three months ended December 31, 2020 of $113 million, or $0.87 per diluted share, on net sales of $1,965 million. Net income in the fourth quarter of 2020 increased by $41 million from fourth quarter 2019 net income of $72 million, or $0.56 per share, on net sales of $1,883 million. Income from operations of $178 million for the fourth quarter of 2020 increased by $76 million from income from operations of $102 million for the fourth quarter of 2019. The increases in net income and income from operations were primarily due to higher sales prices and margins for polyethylene and PVC resin and higher earnings resulting from strong demand in our downstream building products business. These increases were partially offset by lost sales and production volumes, increased
Westlake Chemical Partners LP Announces Fourth Quarter and Full Year 2020 Results
Record annual net income attributable to the Partnership of $66.2 million Declared quarterly distribution of $0.4714 per unit; 26th consecutive quarterly distribution to our unitholders Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership of $66.2 million, or $1.88 per limited partner unit, for full year 2020, an increase of $5.2 million compared to full year 2019. In connection with Hurricane Laura, which struck Lake Charles, Louisiana in August 2020, and Hurricane Delta, which struck the same area in October 2020, Westlake Chemical OpCo LP ("OpCo") declared force majeure events with respect to its Petro 1 and Petro 2 facilities located in Lake Charles under OpCo's ethylene sales agreement with Westlake Chemical Corporation ("Westlake Chemical"). As a result of this event, Westlake Chemical was obligated to pay OpCo the fixed margin and certain other costs associated with ethylene that OpCo would have produced but
Westlake Chemical Corporation Declares Quarterly Dividend
$0.2700 cents per share dividend declared payable on March 16, 2021 The Board of Directors of Westlake Chemical Corporation (NYSE:WLK) declared today a regular dividend distribution of $0.2700 per share for the fourth quarter of 2020. This dividend will be payable on March 16, 2021, to stockholders of record on March 2, 2021. This is the 66th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004. About Westlake Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from packaging and healthcare products to automotive and consumer goods, to building and construction products. For more information, visit the company's web site at www.westlake.com . View source version on businesswire.com: https://www.businesswire.com/news/home/20210219005516/en/ Media Inquiries:
Westlake Chemical
Second-Largest Chlor-alkali Producer in the World
Westlake is the second-largest Chlor-alkali (chlorine and caustic soda) producer in the world, which capitalizes on globally low-cost natural gas for power in North America. Westlake is also one of the largest global producers of caustic soda, which is a key building block for aluminum and polyurethanes.
To view Chlor-alkali Product Specification & Product Stewardship Summary sheets, click HERE.
To view Muriatic Acid Product Specific & Product Stewardship Summary sheets, click HERE.
What is Caustic Soda?
Caustic soda is the chemical compound sodium hydroxide (NaOH). This compound is an alkali – a type of base that can neutralize acids and is soluble in water. Today, caustic soda can be manufactured in the form of pellets, flakes, powders, solutions, and more.
A co-product of the chlorine manufacturing process, caustic soda has been used for decades to create products that enhance our lives every day. Chlorine is used in the manufacture of VCM and PVC and is a key component used in water treatment by municipalities and in swimming pools.
Types of Caustic Soda Products
Caustic soda has become a common ingredient in the production of many everyday items, like soaps and detergents. Commonly known as lye, it has been used to make soap for centuries, and its ability to dissolve grease makes it a common ingredient in oven cleaners and products used to unclog drains.
Sodium hydroxide also plays a key role in processing wood pulp to create paper and cardboard boxes, which have become increasingly essential over the course of the global COVID-19 pandemic as medical supplies are shipped long distances.
The chemical compound is also used to break down the sedimentary rock that aluminum is extracted from. The mineral then goes on to be used in a number of items like construction materials, automobiles and consumer goods like food packaging and soda cans.
One perhaps unexpected use for caustic soda is in the manufacturing of pharmaceuticals like blood thinners and cholesterol medication.
A versatile water treatment product, sodium hydroxide is often used to maintain the safety and cleanliness of pools by removing harmful metals like lead and copper. As a base, sodium hydroxide lowers acidity, regulating water's pH. Additionally, the compound can be used to create sodium hypochlorite, which further disinfects water.
Westlake Chemical Announces Fourth Quarter and Full Year Earnings for 2020 Conference Call
Westlake Chemical Corporation (NYSE: WLK) will release its fourth quarter and full year earnings for 2020 prior to the market opening on Tuesday, February 23, 2021. The company will host a conference call at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) on the same day to discuss the earnings release. To access the conference call, dial (855) 760-8160, or (704) 288-0624 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 3089728. The conference call will also be available via webcast at https://edge.media-server.com/mmc/p/atqiwr7g and the earnings release can be obtained via the company’s Web page at https://investors.westlake.com/news/default.aspx . A replay of the conference call will be available beginning two hours after its conclusion for seven days. To hear a replay, dial (855) 859-2056 or (404) 537-3406 for international callers. The replay passcode is 3089728. About Westlake: Westlake is a global
Westlake Chemical Partners Announce Fourth Quarter and Full Year Earnings for 2020 Conference Call
Westlake Chemical Partners (NYSE: WLKP) will release its fourth quarter and full year earnings for 2020 prior to the market opening on Tuesday, February 23, 2021. The company will host a conference call at 12:00 p.m. Eastern Time (11:00 a.m. Central Time) on the same day to discuss the earnings release. To access the conference call, dial (855) 765-5686, or (234) 386-2848 for international callers, approximately 10 minutes prior to the scheduled start time and reference passcode 3925687. The conference call will also be available via webcast at https://edge.media-server.com/mmc/p/vsdxow8m and the earnings release can be obtained via the company's Web page at, https://investors.wlkpartners.com/corporate-profile/default.aspx . A replay of the conference call will be available beginning two hours after its conclusion for seven days. To hear a replay, dial (855) 859-2056 or (404) 537-3406 for international callers. The replay passcode is 3925687. About Westlake Chemical Partners: Westlake