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Westlake Chemical CorporationWLK’s subsidiary, Westlake Innovations, Inc., recently partnered with Nexii Building Solutions Inc. to support the construction of sustainable buildings by ensuring a minimal environmental footprint. Westlake will be the preferred supplier of certain building materials it manufactures for Nexii’s residential construction, such as siding, stone, tile, trim and moldings, pipe and fittings.

Nexii is a green building technology company, headquartered in Vancouver. It designs and manufactures high-performance buildings and related products supporting sustainability, cost-effectiveness and resilience to climate change. Its remarkable exclusive material is Nexiite, which is effective in reducing carbon emissions. It creates the development of disaster-resistant buildings with up to 75% faster construction time compared to traditional construction methods and materials.

The alliance with Nexii is consistent with Westlake’s dedicated efforts towards sustainability and environmental stewardship. Recently, Westlake completed the acquisitions of Dimex, the manufacturer of consumer and building products made from post-industrial recycled polymers, and Boral’s North American building products business in roofing, siding, woodwork and shutters, decorative stone and windows.

Westlake shares are up 43.1% in the past year over the industrygrowth of 50.2%.

Image source: Zacks Investment Research

During the second quarter earnings call, the company indicated that it wants to continue its business investments in the future. He expects the acquisitions of Boral North America and LASCO Fittings, totaling approximately $2.4 billion, to begin a stage of development and growth for the company. The acquisition of LASCO should also enrich the product portfolio of Westlake’s subsidiary, NAPCO, with an emphasis on new markets and products. Westlake is optimistic that the housing, repair and renovation markets will strengthen by taking advantage of growth opportunities arising from acquisitions.

Westlake Chemical Corporation Pricing and Consensus

Westlake Chemical Corporation Pricing and Consensus

Westlake Chemical Corporation Price Consensus Chart | Quote from Westlake Chemical Corporation

Zacks Ranking and Stocks to Consider

Currently, Westlake carries a Zacks Rank #3 (Hold).

Top-ranked players in the basic materials space include AdvanSix Inc. ASIX, posting a Zacks rank #1 (Strong Buy) and Arkema S.A. ARKAY and Aperam SA APEMY, each wearing a Zacks Rank #2 (Buy). You can see the full list of today’s Zacks #1 Rank stocks here.

AdvanSix forecasts a profit growth rate of 178.1% for the current year. Shares of the company have soared 210.9% over the past year.

Arkema forecasts a profit growth rate of 82.9% for the current year. Shares of the company have gained 10.5% over the past year.

Aperam forecasts a profit growth rate of 429.8% for the current year. Shares of the company have appreciated 71.9% over the past year.

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