Formerly | Westlake Chemical Corporation |
---|---|
Company type | Public company |
Industry | |
Founded | 1986 |
Founder | Ting Tsung Chao |
Headquarters | Houston, Texas, U.S. |
Key people |
Albert Chao (President and CEO) |
Revenue | US$15.794 billion (2022) [1] |
3,050,000,000 United States dollar (2022) | |
US$2.247 billion (2022) | |
Total assets | US$20.550 billion (2022) |
Total equity | US$10.465 billion (2022) |
Number of employees | 15,920 (December 31, 2022) |
Website | westlake.com |
Westlake Corporation is an international manufacturer and supplier of petrochemicals, polymers and fabricated building products, which are fundamental to various consumer and industrial markets. [2] The company was founded by Ting Tsung Chao in 1986. [3] it is the largest producer of low-density polyethylene (LDPE) in the US and ranks among the Forbes Global 2000. [4] [5] Westlake Chemical operates in two segments: Olefins and Vinyls, and is also an integrated producer of vinyls, with substantial downstream integration into polyvinyl chloride (PVC) building products. [6]
In 2014, Westlake made a significant expansion in their ethylene production facilities in Sulphur, Louisiana. [7] In 2014, Westlake acquired the German polyvinyl chloride manufacturer Vinnolit. [8]
In 2016, Westlake acquired U.S. chlor-alkali producer Axiall Corporation for US$3.8 billion. [9]
In June 2021, Westlake purchased the United States building products business of Boral for $2.2 billion [10] [11]
In September 2021, an explosion at a Westlake ethylene plant in Sulphur, Louisiana injured 6 workers. In January 2022, an ethylene dichloride tank exploded at a Westlake facility in Westlake, Louisiana injuring 6 workers and triggering a Shelter-in-place order. [12]
Westlake facilities in Louisiana have had uncontrolled chemical releases including benzene, chloroform, ethylene dichloride, hydrogen chloride and vinyl chloride. [13]
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