CORRECTING and REPLACING Westlake Chemical Partners Announce Third Quarter 2023 Earnings Conference Call

Please replace the release with the following corrected version to update the link to pre-register to https://register.vevent.com/register/BIba82e736e2dc4c7795c84d6a93ba20f8 The updated release reads: WESTLAKE CHEMICAL PARTNERS ANNOUNCE THIRD QUARTER 2023 EARNINGS CONFERENCE CALL Westlake Chemical Partners (NYSE: WLKP) will release its third quarter 2023 earnings prior to the market opening on Thursday, November 2, 2023. The company will host a conference call at 1:00 p.m. Eastern Time (12:00 p.m. Central Time) on the same day to discuss the earnings release. To access the conference by phone, it is necessary to pre-register at https://register.vevent.com/register/BIba82e736e2dc4c7795c84d6a93ba20f8 . Once registered, you will receive a phone number and unique PIN number. When you dial in, you will input the PIN number to be placed into the call. The conference call and replay will be available via webcast at https://edge.media-server.com/mmc/p/4yt2s6sr/ and the earnings release can be

 

ISMANING- Altro, an established UK manufacturer of sustainable floor and wall systems for commercial and domestic spaces, has set itself the goal of significantly reducing its carbon footprint for scope 1 and 2 greenhouse gas emissions through a combination of increased efficiencies and renewable energy use. One component of Altro’s sustainability strategy is the use of lower-carbon Vinnolit GreenVin® PVC in the production of  Altro’s flooring products, manufactured in both the UK and Germany.  Altro supplies flooring to a wide range of sectors including healthcare, education, hospitality, leisure and retail.  Vinnolit GreenVin® PVC is utilised in the formulation of 90% of Altro’s global flooring products.

To manufacture GreenVin® PVC, Westlake Vinnolit purchases electricity generated from renewable sources, such as wind or hydropower, fed to the shared power grid and backed by high-quality renewable energy certificates (Guarantees of Origin / GOs).  In this way, GreenVin® PVC is made with 100% renewable power and provides customers a material with reduced CO2 emissions. Depending on the PVC type, the carbon-dioxide savings of GreenVin® PVC are approximately 25% compared to conventionally produced ®Vinnolit PVC. The respective carbon footprint for the entire Vinnolit product portfolio was calculated by Sustainable AG in accordance with the ISO 14067 standard. Review and certification are carried out by TÜV Rheinland. “With a 2030 target to reduce our carbon footprint, the partnership we have with Westlake Vinnolit is key to our success. Our innovation and product development team is continually striving for high quality, carbon reducing materials and Vinnolit GreenVin® PVC has met that need”, says Sarah de los Rios, Altro’s Commercial and Marketing Director. 

"With our GreenVin® product line, all ®Vinnolit PVC grades are also available as GreenVin® and GreenVin® bio-attributed products to customers - with identical technical specifications and processing properties”, confirms Dr. Thomas Brock, Director of the Business Unit Vinyls, Innovation, Technology at Westlake Vinnolit. “Vinyl flooring is the ideal material for demanding applications: durable, easy to clean and strong in design. With GreenVin® we have created an interesting opportunity for environmentally conscious companies, like Altro, to reduce their own carbon footprint and that of their products. At the same time, we support the goals of VinylPlus®, the European PVC industry’s voluntary commitment to sustainable development."

Media Contacts:
Westlake Vinnolit

Dr. Oliver Mieden, Head of Communications & Public Affairs - PEM Europe and Asia
Westlake Germany GmbH & Co. KG, Carl-Zeiss-Ring 25, 85737 Ismaning, Germany
Phone: +49 (0)89 96103-282, email: oliver.mieden@westlakevinnolit.com

Andrea Walter, Communications - PEM Europe and Asia
Westlake Germany GmbH & Co. KG, Carl-Zeiss-Ring 25, 85737 Ismaning, Germany
Phone: +49 (0)89 96103-240, email: andrea.walter@westlakevinnolit.com

Altro
Helen Bastin, Communications Specialist
Altro Limited, Works Road, Letchworth Garden City, Hertfordshire, SG6 1NW, United Kingdom
Phone +44 (0)1462 480480 hbas@altro.com 

British flooring manufacturer Altro uses Vinnolit GreenVin® PVC for the production of floor coverings used in schools, for example. GreenVin® PVC is produced with renewable power and saves around 25% CO2 compared to conventionally produced ®Vinnolit PVC. (Photo: Altro)
 
British flooring manufacturer Altro uses Vinnolit GreenVin® PVC for the production of floor coverings used in schools, for example. GreenVin® PVC is produced with renewable power and saves around 25% CO2 compared to conventionally produced ®Vinnolit PVC. (Photo: Altro)

 Vinyl floor coverings also convince in hospitals with their hygiene and durability. (Photo: Altro)
Vinyl floor coverings also convince in hospitals with their hygiene and durability. (Photo: Altro)

ABOUT ALTRO
Altro is an established UK manufacturer of sustainable floor and wall systems for commercial and domestic spaces. We operate globally, providing a customer-centric range of creative and technical solutions across all sectors. From focusing on how the different sectors we serve need their spaces to perform, to the call for more environmentally sustainable materials, Altro are constantly challenging what is possible and seeking new ways of inspiring our customers and addressing their biggest challenges. For more information visit www.altro.com.

ABOUT WESTLAKE VINNOLIT
As a leading manufacturer for PVC and an important partner for caustic soda, Westlake Vinnolit offers individual solutions for customers from a wide range of industries, such as the construction sector, the automotive industry, medical technology or pulp and paper production. As a manufacturer of high-quality PVC specialties, Westlake Vinnolit is a global market leader. At its headquarters in Ismaning near Munich and its four production sites in Burghausen, Gendorf, Knapsack and Cologne, 1,400 employees generate annual sales of more than €1 billion.

Westlake Vinnolit participates in the chemical industry's Responsible Care program for the continuous improvement of safety, health and environmental protection and supports VinylPlus®, the European PVC industry's voluntary commitment to sustainable development, as an "Official Partner" financially, ideally and through active participation. For more information visit www.westlakevinnolit.com

ABOUT WESTLAKE CORPORATION (WLK)
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North America, we provide the building blocks for vital solutions — from housing and construction, to packaging and healthcare, to automotive and consumer. For more information, visit the Company's web site at www.westlake.com.


 

  • Partnering with customers to provide flooring made with lower-carbon Vinnolit GreenVin® PVC

Westlake's Statement - 9/20/2023

Westlake Corporation’s Lake Charles operations have been actively investigating, managing, and responding to the condition of one of the company’s salt caverns located in the Sulphur, Louisiana area. 

Since January 2023, Westlake has been working diligently with the Louisiana Department of Natural Resources (DNR) to address the situation. Westlake immediately started engaging third party experts (e.g., seismologists, geophysicists, geo-mechanical engineers) to assist Westlake in understanding the situation and to provide us advice on how to best address it, including brine injection into the well, which has stabilized cavern pressure.  We also have continued to work with the DNR on any developments, additional observations, and to mobilize additional resources and services to anticipate and respond to any circumstances that may arise.

The Office of Conservation issued an emergency declaration on September 20, 2023. Westlake is committed to working cooperatively with all government authorities and offices as well as neighboring well owner/operators to address the concerns raised in the declaration. We intend to keep all parties informed and we are well positioned to respond in the event an incident should occur.

For additional information, go to https://www.westlake.com/westlake-sulphur-dome.

 

  • Westlake Sulphur Dome & Other Information

Westlake Introduces High-Performance PIVOTAL™ Polyethylene Resin with Post-Consumer Content

“One-Pellet Solution” Targets Use of Post-Consumer Content in Flexible Packaging Westlake Corporation (NYSE: WLK) today announced the launch of PIVOTAL™, a line of “one-pellet solutions” for the introduction of post-consumer resin (PCR) into flexible packaging. PIVOTAL™ offers customers a more sustainable material for use in the production of non-FDA applications. Westlake developed PIVOTAL™ to enable customers to maintain the performance levels of their applications while incorporating up to 45% PCR. Rigorous quality control during sourcing and manufacturing ensures that the product provides customers with properties comparable to that of virgin resin. This one-pellet solution is emerging as a more sustainable option for both monolayer and multilayer film applications. In October 2022, PIVOTAL™ received GreenCircle certification. GreenCircle Certified, LLC conducted an independent, third-party evaluation to certify the PCR feedstock as being derived from post-consumer sources as well

Westlake Announces 40% Increase in Quarterly Dividend

The Board of Directors of Westlake Corporation (NYSE: WLK) today declared a regular dividend distribution of 50.00 cents per share for the second quarter of 2023, an increase of approximately 40% from the 35.70 cents per share of the first quarter of 2023. This dividend will be payable on September 12, 2023, to stockholders of record on August 25, 2023. “The significant increase in our dividend reflects the strong cash generative business model as we have continued our growth at Westlake,” said Albert Chao, president and chief executive officer of Westlake. “Our Investments in differentiated and specialty products in our Performance and Essential Material (PEM) segment and leading market positions in downstream building products in our Housing and Infrastructure Products (HIP) segment has enhanced the stability of our earnings profile, while our globally advantaged low-cost position provides strong cash generation throughout the business cycle. Alongside our conservatively positioned,

Westlake Corporation Reports Second Quarter 2023 Results

Housing and Infrastructure Products segment provided earnings stability Cash from operations of $555 million and free cash flow of $315 million Westlake Corporation (NYSE: WLK) (the "Company" or "Westlake") today announced second quarter 2023 results. SUMMARY FINANCIAL HIGHLIGHTS ($ in millions except per share data)     Three Months Ended June 30, 2023   Three Months Ended March 31, 2023   Three Months Ended June 30, 2022                     Westlake Corporation                   Net sales   $ 3,251     $ 3,356     $ 4,483   Income from operations   $ 396     $ 536     $ 1,175   Operating income margin     12%       16%       26%   Net income attributable to Westlake Corporation   $ 297

Westlake Chemical Partners LP Announces Second Quarter 2023 Results

Declared quarterly distribution of $0.4714 per unit; 36 th consecutive quarterly distribution Westlake Chemical Partners LP (NYSE: WLKP) (the "Partnership") today reported net income attributable to the Partnership in the second quarter of 2023 of $11.9 million, or $0.34 per limited partner unit, a decrease of $4.5 million compared to second quarter 2022 net income of $16.4 million. The reduction in Partnership net income in the second quarter of 2023 compared to the second quarter of 2022 was the result of lower production volumes, due to the planned Calvert City maintenance turnaround, and higher interest expense. Cash flows from operating activities in the second quarter of 2023 were $98.5 million, a decrease of $22.4 million compared to second quarter 2022 cash flows from operating activities of $120.9 million. The decrease was primarily due to lower net income at OpCo. For the three months ended June 30, 2023, MLP distributable cash flow was $15.0 million, a decrease of $4.6

Westlake Chemical Partners LP Announces Second Quarter 2023 Distribution

$0.4714 per unit distribution declared payable on August 25, 2023 The Board of Directors of Westlake Chemical Partners GP LLC, the general partner of Westlake Chemical Partners LP (the "Partnership") (NYSE:WLKP), has declared a distribution of $0.4714 per unit. This is the 36th quarterly distribution announced by the Partnership since its initial public offering. The distribution will be payable on August 25, 2023, to unit holders of record on August 11, 2023. This release is intended to be a qualified notice under Treasury Regulation Section 1.1446-4(b). Brokers and nominees should treat one hundred percent (100.0%) of the Partnership’s distributions to non-U.S. investors as being attributable to income that is effectively connected with a United States trade or business. Accordingly, the Partnership’s distributions to non-U.S. investors are subject to federal income tax withholding at the highest applicable effective tax rate. About Westlake Chemical Partners LP Westlake Chemical

Installation took place in June and will air on PBS Docuseries “Family to the Rescue” this fall

Westlake Royal Building Products USA Inc. (Westlake Royal), a Westlake company (NYSE:WLK), recently donated siding and trim products to Rescuing Families, Inc., a nonprofit organization that specializes in remodeling the homes of people with physical limitations with a goal of making their homes more accessible, safe and comfortable. The donation and installation will be featured on the docuseries “Family to the Rescue,” which will air its second season on PBS in fall 2023.

Working closely with its distributor partner New Castle Ronkonkoma in Long Island, Westlake Royal donated Foundry 7" Split Shake siding in the color Golden Straw, as well as Rabbeted White Royal PVC Corners, Starter Strip, Historic Window Trim Sill and Trimboard. The home, which is located in Franklin Square, New York, is being renovated to improve accessibility and safety for the family living there. Westlake Royal team members were also on site to assist with the installation, which took place the last week of June.

“Family to the Rescue” follows Rescuing Families on its quest to improve the lives of people with disabilities. There are over 50 million disabled individuals in the United States who need access to unique home construction and specialized design. Through a completely new approach to home design, they transform the lives of families who feel forgotten, and raise awareness of solutions that are available for them.

“We are humbled and honored to donate Foundry siding and trim to the well-deserving family and contractors working with Rescuing Families,” said Steve Booz, vice president, marketing, Westlake Royal Building Products. “Making homes safe and accessible for people with disabilities is incredibly important to us, and we feel confident that our products will be low maintenance and durable, ensuring that these families do not need to worry about upkeep or renovations after installation.”

“The products that we work with are extremely important to the overall outcome of our renovations, and we are so thankful to Westlake Royal for their generous donation of top-quality siding and trim,” said Vinny Centauro, co-founder of Rescuing Families. “We always want to make sure that the products we use are low maintenance and long lasting, so the last thing the families need to worry about is upkeep. We want to give our families absolutely zero work while also making the home accessible to their specific needs.”

“From our work as contractors and our experience as caretakers, we have seen that often when a person is suffering from an illness, mental or physical disability or even aging, their home becomes an unsafe environment for a multitude of reasons. We see individuals not being able to thrive in their homes anymore, and even get to the point of becoming fearful of their own homes,” said Gina Cantone-Centauro, co-founder of Rescuing Families. “With the help of our partners like Westlake Royal, and the community, we are able to work on projects that affect the overall quality of life of our community’s most vulnerable.”
 

  • Westlake Royal Building Products™ Donates Siding and Trim to “Family to the Rescue” House in New York
  • Westlake Royal Building Products™ Donates Siding and Trim to “Family to the Rescue” House in New York
  • Westlake Royal Building Products™ Donates Siding and Trim to “Family to the Rescue” House in New York

Westlake Announces Second Quarter 2023 Earnings Conference Call

Westlake Corporation (NYSE: WLK) will release its second quarter 2023 earnings prior to the market opening on Thursday, August 3, 2023. 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 by phone, it is necessary to pre-register at https://register.vevent.com/register/BI54f3177dd32545529addfd538d503bd8 . Once registered, you will receive a phone number and unique PIN number. When you dial in, you will input the PIN number to be placed into the call. The conference call and replay will be available via webcast at https://edge.media-server.com/mmc/p/qupkib59 and the earnings release can be obtained via the company’s Web page at https://investors.westlake.com/news/default.aspx . About Westlake: Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, with operations in Asia, Europe and North