8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): May 28, 2014

WESTLAKE CHEMICAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-32260	76-0346924
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

2801 Post Oak Boulevard, Suite 600
Houston, Texas	77056
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (713) 960-9111

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry into a Material Definitive Agreement

On May 28, 2014, Westlake Germany GmbH & Co. KG, a wholly-owned subsidiary of Westlake Chemical Corporation (the “Company”), entered into a Share Purchase Agreement to purchase Vinnolit Holdings GmbH and its affiliated companies (“Vinnolit”) for €490 million from several entities associated with Advent International Corporation. The consummation of the acquisition is subject to customary closing conditions, including regulatory review. The transaction is expected to close during the third quarter of 2014, although there can be no assurance the transaction will occur within the expected timeframe or at all.

Item 8.01 Other Events.

On May 28, 2014, the Company filed a press release announcing the transaction. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference.

On May 28, 2014, the Company also posted a slide presentation on its website (http://www.westlake.com) concerning the transaction. A copy of the presentation is filed as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed herewith:

99.1	Press Release, dated May 28, 2014
99.2	Investor presentation, dated May 28, 2014

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

WESTLAKE CHEMICAL CORPORATION
By:	/s/ Albert Chao
	Albert Chao
	President and Chief Executive Officer

Date: May 28, 2014

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EXHIBIT LIST

Number	Exhibit
99.1	Press release, dated May 28, 2014
99.2	Investor presentation, dated May 28, 2014

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EX-99.1

Exhibit 99.1

Press Release

For Further Information Contact:

Media Relations – David R. Hansen – 713.960.9111

Investor Relations – Steve Bender – 713.960.9111

Westlake Chemical Acquires Specialty PVC Producer Vinnolit

Houston, Texas (May 28, 2014)/PRNewswire/ — Westlake Chemical Corporation (NYSE: WLK) announced today that it has signed a definitive agreement to acquire German-based Vinnolit Holdings GmbH and its subsidiary companies from Advent International, a private equity firm. Vinnolit is an integrated global leader in specialty polyvinyl chloride (“PVC”) resins. The acquisition price of €490 million will be financed using existing Westlake cash and credit facilities. The transaction is expected to close in the third quarter of 2014, subject to standard closing conditions, including regulatory review.

Vinnolit has six production facilities located in Gendorf, Burghausen, Cologne, Knapsack and Schkopau in Germany and Hillhouse in the United Kingdom. These operations have a combined annual capacity of 780 thousand metric tons of PVC, including specialty paste and suspension grades, 665 thousand metric tons of vinyl chloride monomer (“VCM”) and 475 thousand metric tons of membrane grade caustic soda. Vinnolit has a world class research and development facility in Gendorf and applications laboratory in Burghausen. Vinnolit’s products are suitable for a wide range of industrial and building product applications including automotive sealants, cable sheathing, flooring, medical applications, pipes, rigid film, technical coatings, wall covering and window profiles.

Vinnolit’s headquarters are located in Ismaning, Germany, outside of Munich. The company generated €917 million of revenue in 2013 and employs approximately 1,400 employees.

“The acquisition of Vinnolit is an excellent strategic fit for Westlake. It will allow us to expand our chlorvinyl business globally and adds important specialty PVC products and technology to our existing portfolio,” says Albert Chao, Westlake’s President and CEO. “Vinnolit is an impressive company with an outstanding reputation for meeting customer needs with superior technology, product quality, and operating excellence. We look forward to working with their talented team as they join the Westlake family of companies.”

“We have transformed Vinnolit into the leading specialty PVC manufacturer and remain dedicated to further growing the company’s business,” commented Dr Josef Ertl, Managing Director of Vinnolit, on behalf of the management board. “We thank Advent for their support and strategic advice in developing Vinnolit and facilitating its successful transformation. We, as a management team, look forward to beginning a new chapter in our company’s history and continuing our successful growth path together with Westlake.”

Ranjan Sen, General Manager at Advent International in Frankfurt, said: “We are delighted with the successful development of Vinnolit and thank its management team and the company’s employees for their cooperation and dedication throughout our investment. Vinnolit is well positioned to successfully expand its leadership position in specialty PVC further under the new ownership of Westlake.”

For more information regarding this acquisition please visit the company’s web site at http://www.westlake.com/fw/main/presentations-37.html.

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Westlake Chemical Corporation (WLK)

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. The company’s range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC resin and PVC building products including pipe and specialty components, windows and fence. For more information, visit the company’s Web site at www.westlake.com.

EX-99.2

Exhibit 99.2

Westlake Chemical Corporation

Acquisition of Vinnolit Holdings GmbH

Transaction Overview

• Westlake is acquiring Vinnolit Holdings GmbH (“Vinnolit”), a leading European chlor-vinyls producer and a global leader in specialty PVC.

– Vinnolit generated 2013 sales of €917 million.

• Acquisition price of €490 million.

• Transaction multiple of approximately 6x 2013 Vinnolit EBITDA and is expected to be immediately accretive to EPS.

• Subject to regulatory reviews and customary closing conditions, the transaction is expected to close in 3^rd Qtr, 2014.

• The acquisition provides superior:

• Technology

• Products

• Operational excellence

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Vinnolit Company Overview

Sales by geography

Financial summary

	2013
Sales	€	917	MM

Operational summary

	2013
Employees		~1,400
Production sites		6
Capacity
Specialty PVC		500 KMT
Suspension PVC		280 KMT
Caustic (Membrane)		475 KMT
VCM		665 KMT

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Westlake Combination with Vinnolit

Combined revenue of nearly $5 billion

Note: Pro forma financials exclude synergies. Vinnolit financials based on 2013 average USD/EUR exchange rate of 1.33.

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PVC Global Landscape

Select PVC producers worldwide

PVC global capacity: ~46,000 KMT

Vinnolit is a leading specialty PVC producer

Specialty PVC global capacity: ~3,000 KMT

(a) Represents combined company, pre-asset sale                                                                                  Source: IHS Chemical

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Acquisition Advances Westlake Mission

Profitable growth…	•    Specialty PVC provides better margins and reduces volatility. •    European PVC market well-positioned to benefit from economic recovery.
…in businesses we understand	•    Enhances Westlake’s product suite. •    Leverage best practices across regions.
…globally in areas we can gain an edge	•    Diversifies geographic and end market mix. •    Improves distribution capabilities, especially to emerging markets. •    Optimizes product mix and cost positions across business.
…in a disciplined and opportunistic manner	•    Transaction expected to be immediately accretive to EPS. •    No expected change to credit profile.

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Safe Harbor Language

This presentation contains certain forward-looking statements. Actual results may differ materially depending on factors such as general economic and business conditions; the cyclical nature of the chemical industry; the availability, cost and volatility of raw materials and energy, uncertainties associated with the United States and worldwide economies, including those due to political tensions in the Middle East and elsewhere; current and potential governmental regulatory actions in the United States and regulatory actions and political unrest in other countries; industry production capacity and operating rates; the supply/demand balance for our products; competitive products and pricing pressures; instability in the credit and financial markets; access to capital markets; terrorist acts; operating interruptions (including leaks, explosions, fires, weather-related incidents, mechanical failure, unscheduled downtime, labor difficulties, transportation interruptions, spills and releases and other environmental risks); changes in laws or regulations; technological developments; our ability to implement our business strategies; creditworthiness of our customers; and other factors described in our reports filed with the Securities and Exchange Commission. Many of these factors are beyond our ability to control or predict. Any of the factors, or a combination of these factors, could materially affect our future results of operations and the ultimate accuracy of the forward-looking statements. These forward-looking statements are not guarantees of our future performance, and our actual results and future developments may differ materially from those projected in the forward-looking statements. Management cautions against putting undue reliance on forward-looking statements. Every forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward-looking statements.

Investor Relations Contact

Steve Bender

Sr. Vice President & Chief Financial Officer

Westlake Chemical Corporation

2801 Post Oak Boulevard, Suite 600

Houston, Texas 77056

713-960-9111

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