Westlake (WLK) & Nexii Partner for Green Building Construction
Westlake's (WLK) subsidiary, Westlake Innovations, partners with Nexii to promote the construction of sustainable buildings in order to reduce environmental footprint.
Westlake Chemical Corporation’s WLK subsidiary, Westlake Innovations, Inc., recently partnered with Nexii Building Solutions Inc. to support sustainable building construction by ensuring a minimum environmental footprint. Westlake will be the preferred supplier of certain building materials that it makes for Nexii’s residential construction, like siding, stone, roof tiles, trim and molding, pipe and fittings.
Nexii is a green construction technology company, headquartered in Vancouver. It designs and manufactures high-performance buildings and allied products supporting sustainability, cost-efficiency, and resilience to climate change. Its noteworthy proprietary material is Nexiite, which is effective in lowering carbon emissions. It creates the development of disaster-resilient buildings with up to 75% faster build time versus traditional construction methods and materials.
The alliance with Nexii is harmonious with Westlake’s dedicated efforts toward sustainability and stewardship of the environment. Recently, Westlake completed the acquisitions of Dimex, the manufacturer of consumer and building products from post-industrial-recycled polymers, and Boral’s North American building products businesses in roofing, siding, trim and shutters, decorative stone and windows.
Westlake's shares have risen 43.1% in the past year compared with the industry’s 50.2% growth.
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In second-quarter earnings call, the company noted that it is keen to continue with its business investments, going forward. It expects the acquisitions of Boral North America and LASCO Fittings, totaling approximately $2.4 billion, to initiate a stage of development and growth for the company. The LASCO buyout is also expected to add to Westlake subsidiary NAPCO’s product portfolio with a focus on new markets and products. Westlake is optimistic about strengthening the housing, repair, and remodeling markets by leveraging the growth opportunities arising from the acquisitions.
Westlake Chemical Corporation Price and Consensus
Zacks Rank & Stocks to Consider
Currently, Westlake carries a Zacks Rank #3 (Hold).
Better-ranked players in the basic materials space include AdvanSix Inc. ASIX, flaunting a Zacks Rank #1 (Strong Buy) and Arkema S.A. ARKAY and Aperam S.A. APEMY, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AdvanSix has a projected earnings growth rate of 178.1% for the current year. The company’s shares have skyrocketed 210.9% over the past year.
Arkema has a projected earnings growth rate of 82.9% for the current year. The company’s shares have gained 10.5% over the past year.
Aperam has a projected earnings growth rate of 429.8% for the current year. The company’s shares have appreciated 71.9% over the past year.
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Westlake Chemical Corporation (WLK): Free Stock Analysis Report
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