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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