Westlake Chemical increases production in Kentucky by 40% with Technip contracts Technip was awarded engineering and procurement contracts by Westlake Chemical for the expansion and modernization of the ethylene cracking furnaces and the recovery section of Westlake's ethylene plant in Calvert City, Kentucky. The ethylene production capacity will be increased by 40%, from 450M pounds per year to 630M pounds per year, and will use ethane feedstock instead of propane as per the original design.
U.S. Chemicals sector initiated with an Overweight at RBC Capital RBC Capital started the U.S. Chemicals sector with an Overweight rating citing the growth of shale gas. The firm lists ethylene stocks LyondellBasell (LYB), Westlake Chemical (WLK) and Dow Chemical (DOW) its top picks in the space. RBC views coatings stocks as good ways to play the pending recovery in construction, and has Outperform ratings on Sherwin-Williams (SHW) and PPG Industries (PPG). RBC put its only Underperform rating in the sector on Axiall (AXLL), citing the company's short ethylene position and leverage to single-family housing.