SOURCE: Industrial Info Resources
July 18, 2008 05:30 ET
Canadian Chemical Processing Industry Spending Remains Strong Despite $135 Million in Canceled Projects, an Industrial Info News Alert
SUGAR LAND, TX--(Marketwire - July 18, 2008) - 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.
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