Westlake (WLK) and Nexii Partner for the construction of green buildings
You are reading Entrepreneur United States, an international Entrepreneur Media franchise. This story originally appeared on Zack
Westlake Chemical Corporation‘s WLK subsidiary, Westlake Innovations, Inc., recently partnered with Nexii Building Solutions Inc. to support the construction of sustainable buildings with a minimum environmental footprint. Westlake will be the preferred supplier of certain building materials it manufactures for residential construction to Nexii, such as siding, stone, tiles, moldings and moldings, pipes and fittings.
Nexii is a green construction technology company headquartered in Vancouver. It designs and manufactures high performance buildings and related products that promote sustainability, profitability and resilience to climate change. Its remarkable proprietary material is Nexiite, which is effective in reducing carbon emissions. It creates the development of disaster resilient buildings with up to 75% faster construction time compared to traditional building methods and materials.
The alliance with Nexii is harmonious with Westlake’s dedicated efforts towards sustainability and environmental stewardship. Recently, Westlake completed the acquisitions of Dimex, the manufacturer of consumer and construction products made from post-industrial recycled polymers, and Boral’s North American construction products companies in roofing, siding, moldings and shutters, stone. decorative and windows.
Westlake shares have risen 43.1% in the past year compared to industry50.2% growth.
Image source: Zacks Investment Research
During the second quarter earnings call, the company said it wanted to continue its business investments in the future. He expects the acquisitions of Boral North America and LASCO Fittings, totaling approximately $ 2.4 billion, to begin a phase of development and growth for the company. The acquisition of LASCO is also expected to enrich the product portfolio of Westlake’s subsidiary, NAPCO, with a focus on new markets and products. Westlake is optimistic about strengthening the housing, repair and renovation markets by taking advantage of growth opportunities arising from acquisitions.
Zacks rank and actions to consider
Currently, Westlake wears a Zacks Rank # 3 (Hold).
Top ranked players in the Basic Materials space include AdvanSix Inc. AT SIX, posting a rank 1 of Zacks (strong buy) and Arkema SA ARKAY and Aperam SA APEMY, each wearing a Zacks Rank # 2 (Buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
AdvanSix has a projected profit growth rate of 178.1% for the current year. The company’s shares have climbed 210.9% in the past year.
Arkema is posting a forecast profit growth rate of 82.9% for the current year. The company’s shares have gained 10.5% in the past year.
Aperam has a projected profit growth rate of 429.8% for the current year. The company’s shares have appreciated 71.9% over the past year.
Technological IPOs with huge profit potential
Over the past few years, many popular platforms like Uber and Airbnb have finally made their way into the public markets. But the biggest wins have come from lesser-known names.
For example, electric car maker X Peng climbed + 299.4% in just 2 months. Think of it this way …
If you had put $ 5,000 in XPEV when it went public in September 2020, you could have withdrawn $ 19,970 in November.
With record amounts of cash flowing in IPOs and a record stock market, this year’s lineup could be even more lucrative.
Want the latest recommendations from Zacks Investment Research? Today you can download 7 best stocks for the next 30 days. Click to get this free report