ATEL Announces $9MM Rail Car Lease with Westlake Chemical

ATEL Leasing Corporation (“ATEL”) is pleased to announce the completion of a Q4 equipment lease transaction with Westlake Chemical Corporation for 187 covered hopper rail cars for Westlake’s recently acquired Axiall Corporation entity.

This is ATEL’s first transaction with Westlake Chemical and expects to service this new relationship for years to come. “ATEL is proud to have worked with Westlake management to provide financing for the company’s rail fleet right on the heels of their closing a very complex acquisition”, said ATEL Capital Group Chairman and CEO, Dean Cash. “We look forward to working with Westlake on rail financings, as well as other mission critical assets.”

Westlake Chemical Corporation is an international manufacturer and supplier of petrochemicals, polymers and building products with headquarters in Houston, Texas. Westlake’s range of products includes: ethylene, polyethylene, styrene, propylene, caustic, VCM, PVC suspension and specialty resins and PVC building products including pipe and specialty components, windows, fence, deck and film. For more information, visit Westlake’s Web site at www.westlake.com.