Optimistic about real estate prospects!

Westlake Chemical said on June 21 that it agreed to buy the North American building products business of Australian materials company Boral for $2.
15 billion in cash
.

The deal, which is expected to close in the second half of 2021, will make the building products segment the company's largest business, growing to 37%
.
Currently, the Westlake Chemical Building Products segment accounts for 28%, chlor-alkali and European PVC 34%, U.
S.
PVC 18%, and olefins (including polyethylene) 21%
.

"We believe in growing secular trends in the real estate market, home repair and remodeling markets, and believe a strategic acquisition of this business will provide new product platforms and long-term growth opportunities," said Albert Chao, CEO of Westlake Chemical
.

Boral's North American Building Products business employs approximately 4,600 people at 29 manufacturing sites in the U.
S.
and Mexico, and produces products such as roofing, windows, shutters and decorative stone, and had revenue of more than $1 billion in the last fiscal year
.

The acquisition will nearly double Westlake's North American building products business
.
Currently, the Westlake Chemical Building Products segment provides PVC pipe, vinyl siding, trim and molding materials, composite roofing and other compounds
.

Albert Chao said, "As we all know, housing is one of the biggest locomotives driving the American economy
.
We will be involved with PVC and the downstream construction business for decades
.
"

Boral's North American Building Products segment's manufacturing facilities are concentrated in the western and southwestern regions of the United States, while Westlake's facilities are more concentrated in the central, northeastern and southeastern regions
.
The acquisition will help Westlake to cover the entire US market
.