Outlook for Canadian Chemical Producers Improves in 2010

SUGAR LAND--April 9, 2010--Researched by Industrial Info Resources (Sugar Land, Texas)--Project spending in the Chemical Processing Industry (CPI) of Canada decreased last year to $270 million, down substantially from nearly $600 million in 2008. This decrease was no surprise, as the chemical industry struggled with a lack of demand and poor economics. The outlook for 2010 has improved, and already capital and maintenance spending forecast for this year is expected to reach or exceed $350 million. The improvement is still far short of its peak in 2008, but the increase seems consistent with recent spending trends within the CPI across North America.