SOURCE: Industrial Info Resources

February 20, 2009 06:30 ET

Westlake Chemical Hopes for Better 2009 as Fourth Quarter Brings Down 2008 Earnings, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - February 20, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Westlake Chemical Corporation (NYSE:WLK) (Houston, Texas) reported a rough fourth-quarter 2008, as the company suffered a net loss of $109.6 million in the quarter, compared with income of $18.8 million in the fourth quarter of 2007. The company's net sales were down almost 30% year over year, coming in at $597.1 million in 4Q08. The lower sales figures were caused by both a severe drop in the prices of Westlake's chemical products and reduced demand as customers ran down their inventories.

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