December 27, 2014 6:43 PM ET

Company Overview of Westlake Olefins Corporation

Company Overview

Westlake Olefins Corporation was incorporated in 1989 and is based in Houston, Texas. Westlake Olefins Corporation operates as a subsidiary of Westlake Chemical Corp.

2801 Post Oak Boulevard

FLoor 6

Houston, TX 77056-6136

United States

Founded in 1989



Key Executives for Westlake Olefins Corporation

Age: 64
Compensation as of Fiscal Year 2014.

Westlake Olefins Corporation Key Developments

Westlake Olefins Corporation Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Guidance for the Fiscal 2013

Westlake Olefins Corporation reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported income from operations was $161.1 million, an increase of $31.9 million compared to the $129.2 million reported in the first quarter of 2012. This increase was mainly attributable to higher olefin integrated product margins as compared to the first quarter of 2012. Margins improved primarily as a result of significantly lower feedstock and energy costs, which were only partially offset by lower sales prices. Income from operations in the first quarter of 2013 was negatively impacted as a result of the lost production, unabsorbed fixed manufacturing costs and other costs related to the turnaround and expansion of the lake charles ethylene unit. Sales were $583 million for the first quarter of 2013 compared to $732 million in the same period of 2012. The company would estimate an additional $30 million impacting the second quarter 2013 pretax earnings.

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