SOURCE: Industrial Info Resources

April 22, 2009 05:30 ET

North American Chemical Project Cancellations for Second Quarter Nearly Double From One Year Ago, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - April 22, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas)--The economic upset across the world has taken a significant bite out of capital and maintenance spending originally planned for the second quarter of 2009 in North America's Chemical Processing Industry, with more than $780 million project cancellations identified. This is almost double the level of project delays and cancellations for the same quarter last year, which was recorded at $402 million representing 46 individual projects. Despite these setbacks, this still leaves an estimated $1.7 billion in active projects with the potential of beginning some phase of construction during the quarter.

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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.

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