Westlake Compounds Vietnam Company Limited | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

FAST ENTERPRISE CATEGORY

Westlake Compounds Vietnam Company Limited

Information about the Company
Westlake Compounds Vietnam (WCV) is a member of Westlake Global Compounds, a global leader for PVC compounds in diverse industries: Medical, Automotive, Building Construction, Consumer Goods, and Packaging. Its wide range of products includes rigid and flexible grades for extrusion, injection, pressing, and roto-molding.

WCV has a passion for working to enhance its customer needs through superior technology, product quality, and operating excellence. Its determination to seek solutions that change lives and sustain our planet has driven WCV to be a leading integrated compounds company. Its local teams combine personal attention with the expertise, geographical footprint, and financial resources of a global leader.

The company works together to enhance consumers' lives through its products and presence in the communities where it operates. WCV is a competitive player in the PVC industry and focuses its talents on delivering strong business results.

Innovative Corporate Culture & Growth Initiatives
Inheriting a foundation of more than 28 years of experience in the plastics field was a solid stepping stone in helping WCV make rapid and outstanding development steps. WCV owns a complete and fully-integrated supply chain that brings a lot of value to the consumer.

Westlake is a global manufacturer and supplier of materials and innovative products that enhance everyday life. Following this principle, WCV always drives innovation.

Besides its complete range of PVC compounds, with proven stable quality and typical specifications for diverse industries, BIO-based PVC Compounds which are more sustainable have been developed successfully at WCV.

It commits to innovating more sustainable products and producing them in a more sustainable process.

WCV is highly efficient in providing solutions for high-end segments such as Medical, Automotive & key MNCs brand owners in Consumer Goods and Building & Construction segments. Therefore, since the end of 2020, it has been focusing on the Asia market to penetrate those key Asia countries: Thailand, Vietnam, Philippines, and Indonesia, and enhance its Route-To-Market. Additionally, it has been working continuously to provide innovative and sustainable product offerings to its customers towards more attractive products and a greener environment.

The biggest challenge for WCV in 2021 was the Covid-19 pandemic. During this critical time, it was determined to implement 3-on sites to continuously deliver goods to its key customers and keep their supply chains unbroken while managing Covid-19 inside the factory effectively. Besides that, the global supply chain situation has been unstable in the last two years due to the Covid-19 pandemic and the war in Ukraine. However, WCV keeps its delivery commitments by anticipating the unstable supply chain situation and planning ahead of time, together with the financial support from Westlake Group.
Achievements & Impact
In 2021, WCV not only achieved incredible financial outcomes, double sales revenue and profit compared to 2020, but also significantly improved its HSE performance toward a safer, healthier, and zero incident working environment. Its employees did not experience any layoffs or salary impacts due to the Covid-19 pandemic. Customer Satisfaction and Net Promoter Score also improved dramatically in 2021 (NPS from 12% in Q4, 2020 to 58% in Q4, 2021).

WCV works towards an improving working environment, with a series of upgrades related to canteen renovation, cozy new chairs, and motorcycle parking lot, and receives good feedback from employees. It holds yearly comprehensive training to uplift its core competency in technical advancement for operations and supporting function staff. The training will significantly streamline the depth of functional resources to ensure its employees are supported as WCV enhances its equipment and production process functional know-how.

Future Direction
WCV will continue to focalize on investments to increase capacity and ERP/CRM. It has extended its building's capacity by constructing an additional factory, the new compounds plant of WCV, with best-in-class standards, improved working conditions, and high automation. It focuses on expanding its product portfolio, application, and customer base, which drives top-line growth, increasing its product selling points, developing and strengthening its distribution network, and expanding the new export market overseas for PVC Compounds products.

WCV also aims to continue seeking mergers and acquisition opportunities. Furthermore, it will work to control cash flow and increase its profit, create specific plans to develop new, high-quality product lines, and focus on developing its talents to enhance its expertise and operations.

FAST ENTERPRISE CATEGORY

Westlake Compounds Vietnam Company Limited

Information about the Company
Westlake Compounds Vietnam (WCV) is a member of Westlake Global Compounds, a global leader for PVC compounds in diverse industries: Medical, Automotive, Building Construction, Consumer Goods, and Packaging. Its wide range of products includes rigid and flexible grades for extrusion, injection, pressing, and roto-molding.

WCV has a passion for working to enhance its customer needs through superior technology, product quality, and operating excellence. Its determination to seek solutions that change lives and sustain our planet has driven WCV to be a leading integrated compounds company. Its local teams combine personal attention with the expertise, geographical footprint, and financial resources of a global leader.

The company works together to enhance consumers' lives through its products and presence in the communities where it operates. WCV is a competitive player in the PVC industry and focuses its talents on delivering strong business results.

Innovative Corporate Culture & Growth Initiatives
Inheriting a foundation of more than 28 years of experience in the plastics field was a solid stepping stone in helping WCV make rapid and outstanding development steps. WCV owns a complete and fully-integrated supply chain that brings a lot of value to the consumer.

Westlake is a global manufacturer and supplier of materials and innovative products that enhance everyday life. Following this principle, WCV always drives innovation.

Besides its complete range of PVC compounds, with proven stable quality and typical specifications for diverse industries, BIO-based PVC Compounds which are more sustainable have been developed successfully at WCV.

It commits to innovating more sustainable products and producing them in a more sustainable process.

WCV is highly efficient in providing solutions for high-end segments such as Medical, Automotive & key MNCs brand owners in Consumer Goods and Building & Construction segments. Therefore, since the end of 2020, it has been focusing on the Asia market to penetrate those key Asia countries: Thailand, Vietnam, Philippines, and Indonesia, and enhance its Route-To-Market. Additionally, it has been working continuously to provide innovative and sustainable product offerings to its customers towards more attractive products and a greener environment.

The biggest challenge for WCV in 2021 was the Covid-19 pandemic. During this critical time, it was determined to implement 3-on sites to continuously deliver goods to its key customers and keep their supply chains unbroken while managing Covid-19 inside the factory effectively. Besides that, the global supply chain situation has been unstable in the last two years due to the Covid-19 pandemic and the war in Ukraine. However, WCV keeps its delivery commitments by anticipating the unstable supply chain situation and planning ahead of time, together with the financial support from Westlake Group.
Achievements & Impact
In 2021, WCV not only achieved incredible financial outcomes, double sales revenue and profit compared to 2020, but also significantly improved its HSE performance toward a safer, healthier, and zero incident working environment. Its employees did not experience any layoffs or salary impacts due to the Covid-19 pandemic. Customer Satisfaction and Net Promoter Score also improved dramatically in 2021 (NPS from 12% in Q4, 2020 to 58% in Q4, 2021).

WCV works towards an improving working environment, with a series of upgrades related to canteen renovation, cozy new chairs, and motorcycle parking lot, and receives good feedback from employees. It holds yearly comprehensive training to uplift its core competency in technical advancement for operations and supporting function staff. The training will significantly streamline the depth of functional resources to ensure its employees are supported as WCV enhances its equipment and production process functional know-how.

Future Direction
WCV will continue to focalize on investments to increase capacity and ERP/CRM. It has extended its building's capacity by constructing an additional factory, the new compounds plant of WCV, with best-in-class standards, improved working conditions, and high automation. It focuses on expanding its product portfolio, application, and customer base, which drives top-line growth, increasing its product selling points, developing and strengthening its distribution network, and expanding the new export market overseas for PVC Compounds products.

WCV also aims to continue seeking mergers and acquisition opportunities. Furthermore, it will work to control cash flow and increase its profit, create specific plans to develop new, high-quality product lines, and focus on developing its talents to enhance its expertise and operations.