BUZZ-Westlake shares fall after announcing closure of German PVC factory

September 29 - ** The share price of US chemical company Westlake (WLK.N) fell 3.7%, reaching $64.36

** Westlake announced it will close its polyvinyl chloride (PVC) plant in Cologne, Germany (link), due to weak demand, high energy costs, and increased import pressure from Asia

** The closure is expected to result in about 120 layoffs

** The plant is expected to cease operations in the first quarter of 2027

** The company said these measures are expected to improve Westlake’s ongoing profitability in its European vinyl business

** Westlake expects its third quarter financial results to decline quarter-on-quarter

** Including intraday trading moves, the stock's cumulative decline since the start of the year has reached 13%

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