HOUSTON--(BUSINESS WIRE)--Jul. 18, 2016--
Westlake Chemical Corporation (NYSE:WLK) announced today that its
Calvert City, Kentucky complex is in the process of restarting. This
follows an unexpected shut down that occurred on June 1, 2016 as a
result of a mechanical failure of its ethylene unit which resulted in a
complete outage of the complex, which halted all production including
EDC, VCM, Chlor-Alkali and PVC resin. The approximate $40 million impact
of this outage will affect both the second and third quarter financial
results, with nearly half of this amount impacting the third quarter.
Westlake Chemical Corporation, its subsidiaries and affiliates, have
declared force majeure at the Calvert City complex due to this incident.
The company is working with its customers and suppliers to mitigate the
impact of the outage and to meet their needs as production resumes.
About Westlake Chemical Corporation
Westlake Chemical Corporation is an international manufacturer and
supplier of petrochemicals, polymers and building products with
headquarters in Houston, Texas. Westlake's range of products includes:
ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC suspension
and specialty resins and PVC building products including pipe and
specialty components, windows, fence, deck and film. For more
information, visit Westlake's Web site at www.westlake.com.
Except for the historical information contained herein, the matters
discussed in this press release are forward-looking statements that
involve certain risks and uncertainties. These risks and uncertainties
relate to the risks and uncertainties inherent in the petrochemicals,
polymers and building products industries discussed in our filings with
the Securities and Exchange Commission. Forward-looking statements, like
all statements in this press release, speak only as of the date of this
press release (unless another date is indicated). We do not undertake
any obligation to publicly update any forward-looking statements,
whether as a result of new information, future events, or otherwise.
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Source: Westlake Chemical Corporation
Steve Bender, 713-960-9111
Mr. Ben Ederington, 713-960-9111