Westlake Corp Reports Exit and Disposal Costs
Ticker: WLK · Form: 8-K · Filed: 2024-07-29T00:00:00.000Z
Sentiment: neutral
Topics: restructuring, disposal, costs
Related Tickers: WLK
TL;DR
Westlake Corp is booking costs for exits/disposals, expect financial impacts.
AI Summary
On July 29, 2024, Westlake Corporation filed an 8-K report detailing costs associated with exit or disposal activities. The filing indicates that the company is undertaking actions that will result in specific financial charges, though the exact dollar amounts and nature of these activities are not fully disclosed in this initial report.
Why It Matters
This filing signals potential restructuring or divestitures by Westlake Corporation, which could impact future earnings and operational focus.
Risk Assessment
Risk Level: medium — The filing indicates costs associated with exit or disposal activities, which can signal business changes that may carry financial risks.
Key Players & Entities
- Westlake Corporation (company) — Registrant
- July 29, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of incorporation
- 76-0346924 (identifier) — I.R.S. Employer Identification No.
- 2801 Post Oak Boulevard, Suite 600 (address) — Principal executive offices
- Houston, Texas (location) — Principal executive offices city and state
- 77056 (zip_code) — Principal executive offices zip code
FAQ
What specific activities are leading to the exit or disposal costs?
The filing states "Cost Associated with Exit or Disposal Activities" as the item information but does not specify the exact nature of these activities in the provided text.
When was this report filed?
The report was filed on July 29, 2024.
What is Westlake Corporation's state of incorporation?
Westlake Corporation is incorporated in Delaware.
What is the company's principal executive office address?
The principal executive offices are located at 2801 Post Oak Boulevard, Suite 600, Houston, Texas 77056.
What is the filing's primary purpose?
The filing is a Current Report on Form 8-K, reporting costs associated with exit or disposal activities.
From the Filing
0001193125-24-186619.txt : 20240729 0001193125-24-186619.hdr.sgml : 20240729 20240729060404 ACCESSION NUMBER: 0001193125-24-186619 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240729 ITEM INFORMATION: Cost Associated with Exit or Disposal Activities FILED AS OF DATE: 20240729 DATE AS OF CHANGE: 20240729 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WESTLAKE CORP CENTRAL INDEX KEY: 0001262823 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL ORGANIC CHEMICALS [2860] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 760346924 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32260 FILM NUMBER: 241148678 BUSINESS ADDRESS: STREET 1: 2801 POST OAK BLVD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 BUSINESS PHONE: 713-960-9111 MAIL ADDRESS: STREET 1: 2801 POST OAK BLVD STREET 2: SUITE 600 CITY: HOUSTON STATE: TX ZIP: 77056 FORMER COMPANY: FORMER CONFORMED NAME: WESTLAKE CHEMICAL CORP DATE OF NAME CHANGE: 20030908 8-K 1 d837479d8k.htm 8-K 8-K WESTLAKE CORP false 0001262823 0001262823 2024-07-29 2024-07-29 0001262823 us-gaap:CommonStockMember 2024-07-29 2024-07-29 0001262823 us-gaap:SeniorNotesMember 2024-07-29 2024-07-29     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): July 29, 2024     Westlake Corporation (Exact name of registrant as specified in its charter)       Delaware   001-32260   76-0346924 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   2801 Post Oak Boulevard , Suite 600   Houston , Texas   77056 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (713) 960-9111     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock   WLK   The New York Stock Exchange 1.625% Senior Notes due 2029   WLK 29   The New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 2.05. Costs Associated with Exit or Disposal Activities. On July 2, 2024, management of Westlake Corporation (the “Company”) approved a plan to temporarily cease operations of (“mothball”) the allyl chloride (AC) and epichlorohydrin (ECH) units at the Company’s site in Pernis, the Netherlands (collectively, the “Units”) subject to completion of local consultation obligations. The Company will continue to operat