WESTLAKE Business Summary

Westlake Corp (WLK) is a vertically integrated global manufacturer that generates revenue through the production and sale of petrochemicals, polymers, and fabricated building products. The company operates via two primary segments: Performance and Essential Materials (PEM) and Housing and Infrastructure Products (HIP). The PEM segment produces essential chemical building blocks, including polyethylene (PE), polyvinyl chloride (PVC), and chlor-alkali products for packaging, healthcare, and automotive applications. The HIP segment utilizes downstream integration to manufacture finished goods such as PVC pipes, fittings, vinyl siding, and stone veneer, recently bolstered by the January 2026 acquisition of ACI Compounding Solutions to expand its specialty materials portfolio. Westlake holds a dominant market position as the largest U.S. producer of low-density polyethylene (LDPE) and the second-largest global producer of PVC and chlor-alkali. It competes directly with Dow Inc., LyondellBasell Industries, Olin Corporation, and Shin-Etsu Chemical, differentiating itself through its significant exposure to the residential construction and infrastructure sectors. Founded in 1986 by Ting Tsung (T.T.) Chao, Westlake is a family-controlled enterprise led by a management team with deep operational expertise. Jean-Marc Gilson serves as President and Chief Executive Officer, a role he assumed in 2024 following his tenure as CEO of Mitsubishi Chemical Group. The founding family retains strategic control, with Albert Y. Chao serving as Executive Chairman and James Y. Chao as Senior Chairman. The executive suite is rounded out by M. Steven Bender, Executive Vice President and Chief Financial Officer, and Thomas J. Janssens, Chief Operating Officer. The company’s board features prominent directors including Jeffrey W. Sheets (former ConocoPhillips CFO) and Marius A. Haas (former Dell President), ensuring robust financial and technological oversight. While listed on the NYSE, Westlake maintains a unique governance structure with the Chao family holding a controlling interest through TTWF LP, complemented by major institutional shareholders such as Vanguard and BlackRock.