Westlake Chemical Corporation ( WLK) Q4 2011 Earnings Call February 21, 2012 11:00 AM ET Executives David Hansen – VP, Administration Albert Chao – President and CEO Steve Bender – SVP and CFO Analysts Kevin McCarthy – Bank of America Brian Maguire – Goldman Sachs Jeff Zekauskas – JPMorgan Don Carson – Susquehanna Financial Frank Mitsch – Wells Fargo Securities Gregg Goodnight – UBS Bill Kavaler – Oscar Gruss PresentationOperator
Good morning, ladies and gentlemen. Thank you for standing by. Welcome to the Westlake Chemical Corporation’s Fourth Quarter 2011 Earnings Conference Call. During the presentation, all participants will be in a listen-only mode. After the speakers’ remarks you will be invited to participate in a question-and-answer session. As a reminder, ladies and gentlemen, this conference is being recorded today February 21, 2012. I would now like to turn the call over to today’s host, Dave Hansen, Westlake’s Senior Vice President of Administration. Sir, you may begin. David Hansen Thank you very much, and good morning everyone, and thank you for joining us for the Westlake Chemical Corporation’s fourth quarter conference call. I am joined today by Albert Chao, our President and CEO; Steve Bender, our Senior Vice President and Chief Financial Officer; and other members of our management team. The agenda for today will be as follows: Albert, will first make a few comments regarding Westlake’s performance and the strategic initiatives we have under way. Steve, will then provide you with a more detailed look at our financial and operating results. Albert, will have a few concluding comments and then, we’ll open up the call for questions. Today, management is going to discuss certain topics that will contain forward-looking information that is based on management’s beliefs as well as assumptions made by and information currently available to management. These forward-looking statements suggest predictions or expectations and thus are subject to risks or uncertainties. Actual results could differ materially based upon factors including, the cyclical nature of the chemical industry; availability, cost, and volatility of raw materials, energy and utilities; governmental regulatory actions and political unrest; global economic conditions; industry operating rates; the supply/demand balance for Westlake’s products; competitive products and pricing pressures; access to capital markets; technological developments; and other risk factors.
Global growth and lower costs position this manufacturer and supplier of fabricated building products, petrochemicals and polymers for steady double-digit capital appreciation in a perilous investment climate.