WESTLAKE CORP (WLK): restructuring charge — Westlake to mothball AC and ECH units at Pernis; expects EUR 80M pre-tax costs

WESTLAKE CORP

Approved mothball of allyl chloride and epichlorohydrin units at Pernis, Netherlands; expected to cease operations in 2025.
Total pre-tax costs of approximately EUR 80 million: EUR 5M severance and EUR 75M environmental remediation and other mothballing costs.
Workforce reduction of ~30 employees; costs recorded in Q3 2024 with cash outflows over several years starting 2025.
Company expects material improvement in Pernis site financial performance while continuing BPA, LER, and specialty resin operations.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

WESTLAKE CORP announced a restructuring with charges of approximately EUR 80 million affecting allyl chloride (AC) and epichlorohydrin (ECH) units at the Company’s site in Pernis, the Netherlands (approximately 30 employees).

Type: restructuring
Charge: approximately EUR 80 million
Affected area: allyl chloride (AC) and epichlorohydrin (ECH) units at the Company’s site in Pernis, the Netherlands
Headcount: approximately 30 employees

Exact text from the filing

approved the plan to mothball the Units. The Units are expected to temporarily cease operations in 2025. The Company expects to incur total pre-tax costs of approximately EUR 80 million related to the mothballing of the Units. The mothballing of the Units is expected to result in a workforce reduction of approximately 30 employees. The expected costs related to

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Source: SEC EDGAR

accession 0001193125-24-186619

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