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Last $71.14 USD
Change Today +0.51 / 0.72%
Volume 1.2M
WLK On Other Exchanges
Symbol
Exchange
Frankfurt
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2801 Post Oak Boulevard

Suite 600

Houston, TX 77056

United States

Phone: 713-960-9111

Fax:

Westlake Chemical Corporation manufactures and markets basic chemicals, vinyls, polymers, and fabricated building products. The company’s products include various used chemicals in the world, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, residential and commercial construction, as well as other durable and non-durable goods. Segments The company operates in two segments, Olefins and Vinyls. Olefins segment This segment offers ethylene, low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), and styrene. Ethylene: Ethylene is the key building block used to produce a large number of higher value-added chemicals, including polyethylene, ethylene dichloride (EDC), vinyl chloride monomer (VCM) and styrene. The company has the capacity to produce 2.5 billion pounds of ethylene per year at its Lake Charles complex and the capability to consume all of its production internally to produce polyethylene and styrene monomer in its Olefins business and to produce VCM and EDC in its Vinyls business. The company also produces ethylene in its Vinyls segment, all of which is used internally in the production of VCM. The company produces ethylene co-products, including chemical grade propylene, crude butadiene, pyrolysis gasoline, and hydrogen. It sells its entire output of these co-products to external customers. Polyethylene: Polyethylene is used in the manufacture of various film, coatings and molded product applications primarily used in packaging. Polyethylene is generally classified as either LDPE, LLDPE or high-density polyethylene (HDPE). LDPE is used in end products, such as bread bags, dry cleaning bags, food wraps and milk carton and snack package coatings. LLDPE is used for higher film strength applications, such as stretch film and heavy duty sacks. HDPE is used to manufacture products, such as grocery, merchandise and trash bags, plastic containers, plastic closures, and pipe. Styrene: Styrene is used to produce derivatives, such as polystyrene, acrylonitrile butadiene styrene, unsaturated polyester, and synthetic rubber. These derivatives are used in various applications, including consumer disposables, food packaging, housewares, paints and coatings, building materials, tires, and toys. Feedstocks: The company produces most of the ethylene required to produce its polyethylene, VCM and styrene. Ethylene can be produced from either petroleum liquid feedstocks, such as naphtha, condensates and gas oils, or from natural gas liquid feedstocks, such as ethane, propane and butane. One of the company’s ethylene plants uses ethane as its feedstock and the other can use ethane, ethane/propane mix, propane, butane and naphtha. The company owns a 50% interest in a 104-mile natural gas liquids pipeline from Mont Belvieu, Texas to its Lake Charles complex. In addition to its internally supplied ethylene, the company acquires ethylene from third parties to supply a portion of its ethylene requirements. The company acquires butene and hexene to manufacture polyethylene and benzene to manufacture styrene. It receives butene and hexene at the Lake Charles complex and hexene at the Longview complex via rail car from various suppliers. It receives benzene via barges, ships and pipeline pursuant to short-term arrangements. Sales and Marketing: The company has an internal sales force that sells its products directly to its customers. It sells ethylene and ethylene co-products to external customers. The company’s primary ethylene co-products are chemical grade propylene, crude butadiene, pyrolysis gasoline and hydrogen. Competition: The company’s competitors in the ethylene, polyethylene and styrene markets include Chevron Phillips Chemical Company, The Dow Chemical Company, ExxonMobil Chemical Company, INEOS, LyondellBasell Industries, and NOVA Chemicals Corporation. Vinyls segment Principal products in the integrated Vinyls segment include polyvinyl chloride (PVC), VCM, EDC, chlorine, caustic soda and ethylene. The company also manufactures and sells building products fabricated from PVC, including

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Price/Book 3.2x
Price/Cash Flow 13.9x
TEV/Sales 1.7x
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