Westlake Chemical pulls ethylene plant off-steam to shun overcapacity

Westlake Chemical Corporation, Houston-based petrochemical company has provisionally idled one of its ethylene plants in Lake Charles, Louisiana citing customer inventory destocking and decline in demand for company's derivative products. The company will perform a pre-scheduled maintenance work during the time of idling. Further, the company is expecting its Q4 - 2008 and full year results to be adversely affected by cut in production, ailing product demand and inventory write downs. In an effort to manage the build up of excess inventories and to control costs the company elected to idle the ethylene unit noted above until the market and demand recover.
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