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Overview
Westlake Chemical Partners LP is a limited partnership that owns, operates, and acquires ethylene production facilities and related assets. The company was formed in 2014 and is headquartered in Houston, Texas. Its primary focus is on the production of ethylene, a chemical used in the manufacturing of various products such as plastics, rubber, and detergents. The companyβs business model is based on long-term contracts with customers, providing stable cash flows and financial stability. Westlake Chemical Partners LP operates under the umbrella of its general partner, Westlake Chemical Corporation, a leading manufacturer of basic chemicals, such as ethylene, polyethylene, and styrene. Westlake Chemical Partners LP is publicly traded on the New York Stock Exchange under the ticker symbol WLKP and is a component of the S&P 600 SmallCap Index. Ethylene Production Westlake Chemical Partners LPβs main business is the production of ethylene, a colorless gas used in the production of various consumer and industrial products. The company currently has three ethylene production facilities: Westlake Chemical OpCo LP in Lake Charles, Louisiana, Calvert City, Kentucky, and Longview, Texas. These sites have a combined annual capacity of 3.5 billion pounds of ethylene. The company utilizes the latest technology and control systems in its production processes to ensure cost-effectiveness and high-quality products. In addition, Westlake Chemical Partners LP has strategic partnerships with its parent company, Westlake Chemical Corporation, and other third-party companies to maximize production efficiency and resource utilization. Expansion and Growth Westlake Chemical Partners LP aims for continued growth and expansion through acquisitions, partnerships, and increased production capacity. In 2019, the company acquired an ethylene production facility in Longview, Texas, which increased its total annual production capacity by 1.08 billion pounds. The acquisition also expanded the companyβs geographic presence and customer base. Westlake Chemical Partners LP also plans to invest in new technologies and innovations to improve its production processes and reduce its carbon footprint. The company is committed to sustainable growth and takes measures to minimize its environmental impact. Corporate Social Responsibility Westlake Chemical Partners LP is committed to promoting sustainable practices and social responsibility. The companyβs operations are guided by its Environmental, Health, and Safety Policy, which encourages a safe and healthy workplace and minimizes the impact on the environment. In addition, the company supports local communities through various initiatives, including charitable donations and volunteer work. Westlake Chemical Partners LP also provides education and training programs to its employees to promote professional development and personal growth. Conclusion Westlake Chemical Partners LP is a leading ethylene production company with a strong track record of financial stability and growth. Its commitment to sustainability and corporate social responsibility makes it an attractive investment option for those looking to invest in the chemical industry. With a strong management team, strategic partnerships, and continued expansion efforts, the company is well-positioned for long-term success.
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