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Exhibit 99.1 Westlake Significantly Expands its Presence in the Growing North American Home Construction Materials Markets by Acquiring Boral's North American Building Products Businesses Westlake Chemical Corporation will acquire Boral Ltd. ' s North American building products businesses for $ 2.15 billion Acquisition will nearly double Westlake's building products business by adding leading brands in the premium roofing ; siding , trim and shutters ; decorative stone ; and windows business in North America Additional product lines will broaden Westlake's footprint into the fast - growing housing markets in North America HOUSTON - June 20 , 2021 – Westlake Chemical Corporation ( NYSE : WLK ) today announced that it has entered into a definitive agreement with Boral Industries Inc. , a wholly owned subsidiary of Boral Limited ( ASX : BLD ) , under which Westlake will acquire Boral's North American building products businesses in roofing ; siding , trim and shutters ; decorative stone ; and windows for $ 2.15 billion in an all - cash transaction . The proposed transaction has been unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2021 , subject to the receipt of regulatory clearance as well as other customary closing conditions . The combination of Westlake's leading building products with Boral's product lines creates a stronger business with significantly increased scale , greater product and geographical diversity , and enhanced growth prospects throughout the North American building products market . Westlake expects the proposed transaction to be accretive to its earnings in the first full year of combined operations and expects cost synergies of approximately $ 35 million per year . Boral's North American building products businesses employ approximately 4,600 employees at 29 manufacturing sites in the United States and Mexico . Boral's North American building products businesses generated revenues in excess of $ 1 billion during the fiscal year ended June 30 , 2020 . " This transaction will bring well - established and high - quality architectural solutions and premium product brands in roofing ; siding , trim and shutters ; decorative stone ; and windows to complement our existing businesses , including Royal Building Products ' siding , trim and molding , DaVinci composite roofing , NAPCO Pipe and Fittings , and specialty PVC compounding business , " said Westlake President and Chief Executive Officer , Albert Chao . " The combination of Boral North America's product lines with Westlake's building products businesses will greatly expand our housing - related building products business and extend our presence in North America . We look forward to welcoming the Boral employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses . "