Update: Westlake Shares Fall After Plant Closure Plan in Germany

03:11 PM EDT, 09/29/2026 (MT Newswires) -- (Updates with latest stock move in the headline and in the first paragraph.) Westlake (WLK) shares were down over 5% in Tuesday trading after the company said it plans to close its polyvinyl chloride plant in Cologne, Germany, to improve profitability amid challenging market conditions. The facility is expected to cease operations in Q1 of 2027, resulting in a workforce reduction of about 120 employees, the firm said. It plans to continue serving customers from its other PVC facilities in Germany. Westlake said it expects to record about $205 million in total pre-tax charges, with $110 million to be recognized in 2026 and the remainder in 2027. The company said the Cologne plant has higher costs than its other European PVC sites due to its smaller scale and higher logistical burden. Westlake also said it expects its Q3 financial performance to be lower than in Q2. Price: 63.24, Change: -3.60, Percent Change: -5.39