Canadian Chemical Processing Industry Spending Remains Strong Despite $135 Million in Canceled Projects, an Industrial Info News Alert

July 18, 2008 5:30 AM EDT

SUGAR LAND, TX -- (MARKET WIRE) -- 07/18/08 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- At the beginning of this year, an estimated $760 million in combined capital and maintenance Canadian Chemical Processing Industry projects were planned to begin construction in 2008. At the halfway point in the year, an estimated 13 projects, with a total investment value of $135 million, have been identified as canceled or placed on indefinite hold. Some of the largest projects canceled or placed on hold include plans by ProLab Technologies Incorporated (CVE:PLT) (Thetford Mines, Quebec) to build a $40 million oleic acid unit at one of its specialty chemicals plant sites. Nova Chemicals Corporation (NYSE: NCX) (Calgary, Alberta) canceled plans for an expansion in Alberta. Some of the larger projects planned to begin construction during the last months of this year are plans by Air Products and Chemicals Incorporated (NYSE: APD) (Allentown, Pennsylvania) for a new 1,200-ton-per-day air separation unit. MEGlobal Canada Incorporated (Red Deer, Alberta) has plans for production growth at the Dow Chemical (NYSE: DOW) Red Deer plant site.

For details, view the entire article by subscribing to Industrial Info's Premium Industry News at http://www.industrialinfo.com/showNews.jsp?newsitemID=135603, or browse other breaking industrial news stories at www.industrialinfo.com.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to chemicalsgroup@industrialinfo.com or visit us online at www.industrialinfo.com.

Related News Articles

Planned Chemical Plant Maintenance Turnaround Activity Stays on Course for 2008

Dow Chemical Reinforces its Future with Planned Acquisition of Rohm and Haas

Newly Formed LyondellBasell Industries Aims to Make Changes, Maintain Profits

Add to Digg Bookmark with del.icio.us Add to Newsvine

Contact:
Joe Govreau
713-783-5147

Related Categories

Press Releases

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?