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IIR Industry News Alerts
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Daily Industrial Market News
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Second Quarter Ends on Positive Note for the Chemical Processing Industry
SUGAR LAND--July 3, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Despite the numerous hurdles facing the chemical processing industry (CPI) of North America, Industrial Info Resources has reported an additional 82 capital and maintenance projects in the industry during the month of June valued around $1.2 billion. Some of the largest approved projects include plans by Church & Dwight Company Incorporated (NYSE: CHD) (Princeton, New Jersey), and PetroLogistics LLC (Houston, Texas), which has acquired a former chemical site of ExxonMobil Corporation (NYSE: XOM).
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Tobolsk-Polimer Selects E&C Contractors for Unit Additions
SUGAR LAND--July 3, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Tobolsk-Polimer LLC (Tobolsk, Russia) is moving forward with plans to add two new production units in Tobolsk that will produce propylene and polypropylene. Maire Tecnimont SpA (BIT:MT) and NOVATEK OAO (RTC:NVTK) (Moscow, Russia) were among the companies to be awarded contracts for the two projects.
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Valero Energy Selects Contractors for $200 Million Hydrogen Project at California Refinery
SUGAR LAND--July 2, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Valero Energy Corporation (NYSE:VLO) (San Antonio, Texas) has selected contractors to construct a $200 million, 100-million-standard-cubic-feet-per-day hydrogen plant at the company's Benicia refinery in California. SNC-Lavalin (TSX:SNC) (Montreal, Quebec) is one of several companies that were selected.
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Project Cancellations Remain Low Despite Market and Feedstock Woes
SUGAR LAND--July 1, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--As the price of crude oil continues to climb and commodity price increases show up in daily news reports, it is expected that the Chemical Processing Industry (CPI) will respond with cutbacks or project delays and cancellations. Despite these constraints and other issues, Industrial Info has identified only $826 million in CPI projects to be canceled or placed on hold that were originally planned to begin construction in the first six months of 2008. But capital projects haven't been the only victim of market concerns. INEOS NOVA LLC (Channahon, Illinois), a joint venture company between NOVA Chemicals (NYSE:NCX) (Calgary, Alberta) and Ineos, has canceled plans for a major turnaround of a styrene plant originally planned to begin in June. A smaller turnaround is planned for the fourth quarter with the potential for a major turnaround next spring.
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2008 Brings Large Investment to European Chemicals Market
SUGAR LAND--June 30, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Since the beginning of 2008, Industrial Info has reported over $3.5 billion worth of investment in the European chemicals market, representing an increase of 30% from the same period last year. Germany is the largest contributor with six projects representing a combined investment of $1.2 billion. Two projects that significantly contribute to this investment amount are Wacker Chemie AG's (FRA:WCH) (Munich, Germany) polysilicone expansions II & III, which cost an estimated $375 million and $535 million, respectively.
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