Already have an ACS ID? Log in
Renew your membership, and continue to enjoy these benefits.
Already an ACS Member? Log in here
Choose the membership that is right for you. Discount will be applied automatically at checkout.
Enjoy these benefits no matter which membership you pick.
Most Popular in Business
Westlake Chemical is carving out its ethylene operations as a tax-advantaged master limited partnership, or MLP. The new company, to be called Westlake Chemical Partners (WCP), has filed a prospectus with the Securities & Exchange Commission for an initial public offering of equity worth $272 million. WCP will control Westlake’s ethylene crackers in Lake Charles, La., and Calvert City, Ky., as well as a pipeline between Mont Belvieu and Longview, Texas. It will supply ethylene to Westlake’s polyvinyl chloride and polyethylene operations under contract. WCP would have had $1.2 billion in sales last year. The new firm says it will seek to acquire ethylene-related assets. Jefferies stock analyst Laurence Alexander says Westlake’s move could inspire other chemical firms to consider MLPs for some of their assets.
This article has been sent to the following recipient: