Westlake Chemical is scoping expansion opportunities to meet growing demand for construction staple polyvinyl chloride and possibly increasing its internal ethylene production, reports S&P Global.
CEO Albert Chao said during the company’s Q1 2021 earnings call that Westlake is a major US ethylene buyer, more than 1 billion lb (453,592 mt) per year, to feed downstream derivatives that the company’s internal ethylene production cannot cover.
The company also may add downstream PVC capacity, given strong demand for pipes, window frames, vinyl siding and other products for housing. Westlake announced the company’s Q1 2021 net income reached $242 million, up 67% from $145 million in the year-ago period. Read the full story.