Westlake Chemical Corporation Updates Statement on Lake Charles Operations
September 08 2020 - 6:50AM
Business Wire
Westlake Chemical Corporation (NYSE: WLK) today issued a
statement updating the impact of Hurricane Laura, which made
landfall near its plants in the Lake Charles, Louisiana area.
In the aftermath of Hurricane Laura, the safety of our employees
and the integrity of our operations in the greater Lake Charles
area remain our primary focus. We are working to assist our
employees and their families, many of whom have suffered damage to
their homes and are without power.
Recovery efforts at our plants in the Lake Charles area are
underway for the safe and reliable return to operations.
Restoration of electricity and other utilities remain critical to
these efforts. The local utility, Entergy Louisiana, has reported
extensive damage to the electricity transmission system in the Lake
Charles area and that restoration of service will take a number of
weeks. Given Entergy’s latest guidance on the restoration of power
to the Lake Charles area, barring other unforeseen circumstances,
we currently expect production at some of our units to restart by
the end of September and full production to resume in early
October.
The statements in this release relating to matters that are not
historical facts, such as Westlake’s expectations regarding the
timing of the restoration of electricity by Entergy Louisiana and
the timing of restart of production and full production of its
facilities, are forward-looking statements. These forward-looking
statements could be adversely affected by a variety of known and
unknown risks, uncertainties and other factors that are difficult
to predict and many of which are beyond management’s control.
Westlake’s expectations may or may not be realized or may be based
upon assumptions or judgments that prove to be incorrect. For more
detailed information about the factors that could cause actual
results to differ materially from the forward-looking statements
contained herein, please refer to Westlake’s Annual Report on Form
10-K for the year ended December 31, 2019, which was filed with the
SEC in February 2020, and Westlake’s Report on Form 10-Q for the
quarter ended March 31, 2020, which was filed with the SEC in May
2020.
About Westlake
Westlake is a global manufacturer and supplier of materials and
innovative products that enhance life every day. Headquartered in
Houston, we provide the building blocks for vital solutions — from
packaging and healthcare products to automotive and consumer goods,
to building and construction products. For more information, visit
the company's web site at www.westlake.com.
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Media Inquiries: Westlake Chemical
Corp. Ben Ederington, 1-713-960-9111 or Investor Inquiries: Westlake Chemical Corp. Steve
Bender, 1-713-960-9111
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