Brief: Westlake Corp Says Settlements Have Been Reached To Fully Resolve The Lawsuits Relating To The Petro 2 Flash Fire And The EDC Storage Tank Explosion

Westlake

06/02/2024 22:07

Feb 6 (Reuters) - Westlake Corp  WLK.N :
    * WESTLAKE CORP- SETTLEMENTS HAVE BEEN REACHED TO FULLY
RESOLVE
THE LAWSUITS RELATING TO THE PETRO 2 FLASH FIRE AND THE EDC
STORAGE TANK EXPLOSION
    * WESTLAKE CORP-  SETTLEMENTS TOTALING ABOUT $382 MILLION IN
THE
AGGREGATE WERE REACHED WITH ALL OF THE PLAINTIFFS TO RESOLVE THE
LAWSUITS
    * WESTLAKE CORP-  ABOUT $150 MILLION OF THE $382 MILLION
TOTAL
FINAL SETTLEMENT AMOUNT IS CURRENTLY NOT BEING COVERED BY THE
INSURERS
    * WESTLAKE CORP-  EXPECTS TO RECORD A CHARGE OF ABOUT $150
MILLION
IN THE FOURTH QUARTER OF 2023

Source text for Eikon: [https://bitly.ws/3czhk]
Further company coverage:  WLK.N 

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