Westlake Doubles its Portfolio in High-Growth North American Building Products Market
Summary
HOUSTON--(BUSINESS WIRE)--Westlake Chemical Corporation (NYSE: WLK) today announced that it has completed the acquisition of Boral Limited’s North American building products businesses in roofing; siding, trim and shutters; decorative stone; and windows for $2.15 billion in an all-cash transaction. “This transaction effectively doubles the size of our portfolio in the high-growth North American building products segment,” said Westlake President and Chief Executive Officer Albert Chao. We look forward to welcoming the Boral employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses.” Boral’s North American building products businesses employ approximately 4,600 employees at 29 manufacturing sites in the United States and Mexico. Boral’s North American building products businesses generated revenues in excess of $1 billion during the fiscal year ended June 30, 2020. We expect the deal to be accretive to earnings in the first full year of combined operations.” The acquisition comes after Westlake recently closed on its acquisitions of Dimex LLC, which processes recycled plastic materials to manufacture home and lifestyle products, such as landscape edging, home and office matting, and marine deck edging; and of LASCO Fittings LLC, a leading designer, engineer and manufacturer of injected-molded PVC fittings.