Westlake Announces
Ethylene Capacity Expansion Plans
Westlake Chemical Corporation today announced an expansion
program to include increasing the ethane-based
ethylene capacity
at Lake Charles, LA, and the evaluation of expansion options and
the upgrade of ethylene production facilities at Calvert City, KY
in order to capitalize on new low cost ethane and other
"light" feedstocks being developed in North America.
As part of this program each of the company's two light feedstock
ethylene crackers in Lake Charles will be expanded. These expansions
will commence as planned maintenance turnarounds occur in order
to provide ethylene for existing internal derivatives units and
the merchant market. The first cracker expansion will increase
capacity by approximately 230-240 million
pounds per
year, while also increasing feedstock flexibility. It is expected
this project would be completed by late 2012 and a second
expansion concluded by the end of 2014.
At Calvert
City, the
company is evaluating conversion from propane to
ethane feedstock
that is becoming available from increasing North American gas
liquids reserves from sources such as shale gas. Additionally,
expansion options are being evaluated for the site and
engineering and design studies are underway.
Westlake operates a large ethylene complex near Lake Charles, Louisiana. Most of the production is used internally to produce higher value-added chemical products.
Also, there is the capacity to produce ethylene at our vinyls operation, located in Calvert City, Kentucky. The ethylene manufactured at Calvert City is used internally in the production of vinyl chloride monomer (VCM).
"New technical
developments in the natural gas industry make expansion in North
America attractive and we are accelerating engineering and
feedstock sourcing efforts in order to reduce our external
purchases of ethylene and provide for attractive future Westlake
growth," said Albert Chao, Westlake President and CEO.
"These projects provide an exciting opportunity to
capitalize on advantaged feed sources expected from shale gas
reserves at two of our core production sites."
Westlake Chemical Corporation (WLK)
Westlake Chemical Corporation is an international manufacturer
and supplier of petrochemicals, polymers and fabricated products
with headquarters in Houston, Texas. The company's range of
products includes: ethylene, polyethylene, styrene, propylene,
caustic, VCM, PVC and PVC building products including pipe,
windows and fence. For more information, visit the company's Web
site at http://www.westlake.com.
The statements in this release relating to the ethylene
modifications and expansions, as well as any other matters that
are not historical facts, are forward-looking statements that are
subject to risks and uncertainties. Actual results could differ
materially. For more detailed information about factors that
could cause actual results to differ materially, please refer to
Westlake's Annual Report on Form 10-K for the year ended December
31, 2010, which was filed in February 2011.
2012/9/24 Westlake Westlake Announces Ethylene Capacity Expansion Plans
Westlake Chemical to Expand Ethylene
Capacity in Lake Charles, LA in First Quarter 2013
Westlake Chemical Corporation announced today that it will perform planned
maintenance and an expansion of the Petro 2 ethylene unit at its complex in Lake
Charles, LA in the first quarter of 2013. This expansion will increase
ethane-based ethylene capacity by approximately
230 - 240 million pounds annually in support of the
Company's ethylene integration strategy. The unit is expected to be down
approximately 50 days for the work to be completed.
Westlake to Convert Calvert City Ethylene Feedstock to Ethane
- Increasing Ethylene and PVC Capacity
- Commonwealth of Kentucky Provides Tax Incentives
Westlake Chemical Corporation announced today it is converting the feedstock for its Calvert City, Kentucky ethylene plant from propane to ethane along with increasing ethylene capacity from 450 million pounds per year to 630 million pounds per year. This expansion and feedstock conversion will enhance Westlake's vinyl chain integration and leverage low cost ethane being developed in the Marcellus shale area.
北米では、天然ガスが豊富にあり、エタン、そしてLPガスを原料としてエチレン業界を伸ばしてきたので、エタンが北米では一番多く、それに続いてプロパン、ブタンもクラッキングに使われている。
2011/8
“In Calvert City … we continue to review the options surrounding the propane to ethane conversion, including what, if any, new incremental ethylene capacity will be produced at the time of the conversion,” said Westlake senior vice president Dave Hansen.
The Calvert City cracker, which uses propane to produce ethylene, has a capacity of 195,000 tonnes/year.
"We're waiting for a Marcellus [shale] pipeline to bring ethane from the Marcellus down to the Gulf Coast," Chao said. "We hope to tap into those pipelines to bring ethane to Calvert City. Once we convert from propane to ethane, the potential for incremental debottlenecks will add some capacity at Calvert City."
In addition, Westlake announced an expansion
of the existing PVC plant in Calvert City, Kentucky
that will add approximately 200 million pounds per
year of capacity to the existing 1,100 million pounds of
annual capacity. This expansion allows Westlake to take advantage of the
increased ethylene production at the site and to provide additional PVC resin to
meet the growing demands of our global customers.
The construction costs for these projects are estimated to range between $210 to
$240 million. The ethylene expansion and feedstock conversion project is
targeted for start-up in the second quarter of 2014 and the PVC expansion is
projected to start up in late 2014. These projects are expected to create
approximately 300 construction jobs.
The Kentucky Economic Development Finance Authority has preliminarily approved
tax incentives up to $10 million, with an additional $7 million pending approval
through the Kentucky Reinvestment Act (KRA), for these new projects and other
work currently in progress at the site. KRA is designed to assist
companies that need to make significant capital investment in Kentucky
facilities in order to remain competitive.
"This is an outstanding step forward for Westlake and a tremendous boost for the
economy of Calvert City and the surrounding area," said Kentucky Gov. Steve
Beshear. "Kentucky has built a partnership with Westlake and we're thrilled to
see this multi-million dollar investment in the Commonwealth."
In speaking of these projects Westlake Chemical Corporation's President and CEO
Albert Chao stated, "These announced projects demonstrate our commitment to our
overall integration strategy and to leveraging our access to low cost feedstock.
It further confirms the importance of the Calvert City operations and our
commitment to building a strong and successful site. We again extend our
appreciation to Gov. Beshear and his administration, along with our supplier
partners, for their continued support of our future in Kentucky and helping us
to remain competitive at the site."
Mar 07, 2013 (M&A Navigator via COMTEX)
Saint-Gobain to sell PVC Pipe & Foundations
to Westlake Chemical
French building materials and glass producer Compagnie de
Saint-Gobain SA said it had agreed to sell its
US-based PVC Pipe & Foundations business to US
Westlake Chemical Corp for an enterprise value of USD175m (EUR134.7m).
The deal, which has yet to receive US regulatory clearance, is seen to be
completed in the second quarter of this year.
Saint-Gobain will sell the business, which produces polyvinyl chloride pipes and
fittings for agricultural and industrial applications, to Westlake Chemical's
unit North American Pipe Corp. The offload of the operation, which is part of
Saint-Gobain's Exterior Products Division and sells products under the
CertainTeed brand, is in line with the vendor's strategy to refocus on the
Habitat market, with the CertainTeed brand becoming fully focused on the
construction market, especially the residential segment, it said.
The funds raised via the deal will be mainly used for Saint-Gobain's acquisition plan, which targets small- or medium-sized companies, the French company added.
−−−−−−−−−−−
Westlake Chemical Closes Purchase of CertainTeed's PVC Pipe, Fittings and Foundations Business
In 1988, CertainTeed became a wholly owned subsidiary of Saint-Gobain.
The PFG acquisition includes the PVC
pipe, fittings, profiles and foundation business and associated
facilities in
Westlake Chemical Acquires Specialty PVC
Producer Vinnolit
Westlake Chemical Corporation announced today that it has signed a definitive
agreement to acquire German-based Vinnolit Holdings GmbH and
its subsidiary companies from Advent International,
a private equity firm. Vinnolit is an integrated global leader in specialty
polyvinyl chloride ("PVC") resins. The acquisition price of
Euro 490 million will be financed using existing
Westlake cash and credit facilities. The transaction is expected to close in the
third quarter of 2014, subject to standard closing conditions, including
regulatory review.
Vinnolit has six production facilities located in Gendorf, Burghausen, Cologne,
Knapsack and Schkopau in Germany and Hillhouse in the United Kingdom. These
operations have a combined annual capacity of 780 thousand
metric tons of PVC, including specialty paste and suspension grades,
665 thousand metric tons of vinyl chloride monomer
("VCM") and 475 thousand metric tons of membrane grade
caustic soda. Vinnolit has a world class research and development
facility in Gendorf and applications laboratory in Burghausen. Vinnolit's
products are suitable for a wide range of industrial and building product
applications including automotive sealants, cable sheathing, flooring, medical
applications, pipes, rigid film, technical coatings, wall covering and window
profiles.
Vinnolit's headquarters are located in Ismaning, Germany, outside of Munich. The
company generated Euro 917 million of revenue in 2013 and employs approximately
1,400 employees.
"The acquisition of Vinnolit is an excellent strategic fit for Westlake. It will
allow us to expand our chlorvinyl business globally and adds important specialty
PVC products and technology to our existing portfolio," says Albert Chao,
Westlake's President and CEO. "Vinnolit is an impressive company with an
outstanding reputation for meeting customer needs with superior technology,
product quality, and operating excellence. We look forward to working with their
talented team as they join the Westlake family of companies."
"We have transformed Vinnolit into the leading specialty PVC manufacturer and
remain dedicated to further growing the company's business," commented Dr Josef
Ertl, Managing Director of Vinnolit, on behalf of the management board. "We
thank Advent for their support and strategic advice in developing Vinnolit and
facilitating its successful transformation. We, as a management team, look
forward to beginning a new chapter in our company's history and continuing our
successful growth path together with Westlake."
Ranjan Sen, General Manager at Advent International in Frankfurt, said: "We are
delighted with the successful development of Vinnolit and thank its management
team and the company's employees for their cooperation and dedication throughout
our investment. Vinnolit is well positioned to successfully expand its
leadership position in specialty PVC further under the new ownership of
Westlake."
---
欧州塩ビ業界では他に、投資会社のAdvent
International が塩ビ子会社 Vinnolit の売却先を探す努力を続けていた。
欧州の住宅建築のスローダウンで窓枠やドア材などの塩ビ製品の販売が停滞しているのが理由。
Vinnolit はHoechst とWacker のJVであったが、2000年にAdvent
International が買収した。
2007年にVinnolitはINEOSからペーストPVC(Emulsions-PVC)事業を買収した。
英国のHillhouseとドイツのSchkopauのペーストPVC工場を買収するとともに、INEOSのイタリアのPorto Torres
工場で生産するペーストPVC全量の引取り権も得た。
Vinnolit の状況は以下の通り。
能力(千トン):
PVC 780 VCM 665 Caustic soda (100%) 475
工場:
立地 製品 VCM ドイツ Cologne Microsuspension (paste) PVC
Suspension PVCWacker Chemie工場内 鉄道輸送 Knapsack 電解、EDC、VCM、
Suspension PVCHoechst 工場内 自製 Gendorf 電解、EDC、VCM、
Suspension PVC
Emulsion PVC自製 Burghausen Suspension PVC
Emulsion PVCWacker Chemie工場内 Gendorf からパイプ輸送 Schlopau Emulsions-PVC Dow ValuePark内
(旧INEOS)Dowからローリー輸送 英国 Hillhouse Emulsions-PVC
Microsuspensions-PVC(旧INEOS) INEOSのRuncornからローリー
Westlake Chemical to Expand Ethylene Capacity in Lake Charles, LA
In addition to the 480 employee and 115 core contractor jobs that will be retained at the site, Westlake will add an additional 25 new direct jobs. This expansion is expected to create an estimated 1,000 construction jobs at peak activity.
Westlake Chemical Increases Proposal to Acquire Axiall Corporation to $23.35 Per Share in Cash and Stock
-- Axiall's Board Summarily
Rejects Revised Proposal
-- Revised Proposal Represents Premium of Over 143% to Axiall Closing Share
Price Prior to Initial Proposal and an Increase of Approximately 17% to
Initial Proposal
Given this response,
Westlake intends to file preliminary proxy materials today with the