Westlake Chemical Partners (NYSE:WLKP) (NYSE: WLKP) is a publicly traded master limited partnership sponsored by Westlake Chemical Corporation. The partnership owns, operates and acquires a portfolio of ethylene and vinyl manufacturing assets throughout the United States and the United Kingdom. As a downstream producer of basic chemicals and intermediates, WLKP supplies key industrial feedstocks to customers in a variety of end markets.
WLKP’s operations are organized into two primary segments: olefins and vinyls. In the olefins segment, the partnership operates an ethylene cracker and related fractionation facilities that produce ethylene and propylene, which serve as building blocks for polyethylene, polypropylene and other specialty polymers. The vinyls segment includes vinyl chloride monomer (VCM), polyvinyl chloride (PVC) and chlor-alkali production, as well as related by-product recovery units. These products are used in construction materials, pipe and profile applications, packaging and flexible film.
Founded in December 2012, Westlake Chemical Partners has grown through strategic acquisitions and expansions of its manufacturing footprint. In mid-2014, for example, WLKP acquired Westlake Chemical’s North American VCM and PVC assets, strengthening its vinyls platform. The partnership also maintains a significant presence in the United Kingdom through its Westlake Vinyls Europe joint venture, which supplies European and global markets.
Governed by an experienced board of directors and managed day-to-day by Westlake Chemical Corporation under a long-term services agreement, WLKP leverages technical expertise in process optimization and operational reliability. Its integrated asset base and focused business model are designed to deliver consistent production, flexibility in feedstock sourcing and stable distributions to unitholders.
