Vinnolit Issues Statement Regarding PVC Production in Schkopau

Vinnolit GmbH & Co. KG (“Vinnolit”) today issued a statement that it has initiated consultations with the works council at its Schkopau site regarding the closure of the site’s paste polyvinyl chloride (“PVC”) plant.
The decision was driven by the plant’s lack of economic viability and long-term competitive sustainability. Vinnolit expects to take an accounting charge of approximately €29 million in the third quarter associated with the closure.
Customers will continue to be supplied from Vinnolit’s larger, backward-integrated sites at Burghausen, Gendorf and Cologne.

Vinnolit greatly appreciates the dedication of its employees at the Schkopau site and regrets that economic conditions have necessitated this action.

Vinnolit, a Westlake Chemical Corporation (“Westlake”) company, is a leading specialty PVC manufacturer.

The statements in this release relating to matters that are not historical facts, such as Vinnolit’s anticipated closure of its paste PVC plant at Schkopau and its expected accounting charge associated with the same, are forward-looking statements. These forward-looking statements could be adversely affected by a variety of known and unknown risks, uncertainties and other factors that are difficult to predict and many of which are beyond management’s control. Vinnolit’s expectations may or may not be realized or may be based upon assumptions or judgments that prove to be incorrect. For more detailed information about the factors that could cause actual results to differ materially from the forward-looking statements contained herein, please refer to Westlake’s Annual Report on Form 10-K for the year ended December 31, 2019, which was filed with the U.S. Securities and Exchange Commission (“SEC”) in February 2020, and Westlake’s Report on Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC in May 2020.