MOSCOW (MRC) -- Westlake Chemical Corporation, the US plastics maker controlled by the billionaire Chao family, has announced that it held a dedication ceremony to celebrate the expansion of its Calvert City, Kentucky Vinyls Complex, as per the company's press release.
This ceremony was attended by The Honorable Steve Beshear, Governor of Kentucky, James Chao, Chairman of the Board of Westlake Chemical and Albert Chao, President and CEO of Westlake Chemical. They were joined by various state and local officials, local industry guests and executives and employees of the company.
"We have enjoyed a long and rewarding relationship with Kentucky, operating since 1990 in Calvert City," said Westlake Chemicals President and CEO Albert Chao. "Our Kentucky operations are a vital hub for our enterprise and over the years, we have invested approximately USD1 billion at Calvert City."
Westlake Chemical has spent in excess of USD300 million into the overall expansion project. This investment included expanding ethylene production capacity and converting its feedstock from propane to ethane to leverage low cost ethane being developed in regional shale gas areas. Additionally, PVC resin capacity was increased to meet the growing demands of global customers.
Westlake Chemical's Calvert City facility employs approximately 400 employees along with 150 core contractors and has been in operation for nearly 25 years.
We remind that, as MRC reported earlier, in May 2014, Westlake Chemical Corp. separated its ethylene assets into a tax-advantaged venture in which it plans to sell shares to the public. The master-limited partnership (MLP) includes three US ethylene plants and a 200-mile (322-km) ethylene pipeline. Ethylene, the most common petrochemical, is used to make products from plastic bottles to autoparts and pipe.
Westlake Chemical Corporation is a manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company's range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe and specialty components, windows and fence.
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