New CPI Project Activity in July Remains Steady

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Researched by Industrial Info Resources (Sugar Land, Texas)--As the Chemical Processing Industry (CPI) concluded the month of July, total project activity and spending for new projects identified for the first time remained almost unchanged from July of last year. During the month of July, Industrial Info reported 83 new capital and maintenance projects in the United States and Canada, valued at an estimated $461 million. During the same month last year, Industrial Info reported 71 new projects, although the total investment value (TIV) reached $475 million, slightly higher than this year's total for July.

Does the almost flat performance of the past month in comparison to a year ago signal a lack of confidence in the market? "I don't think so," said Trey Hamblet, Industrial Info's Chemicals Group Vice President. "The first half of the year ended on a very strong note with the CPI exceeding spending for construction starts by nearly $1 billion. Despite falling short of spending totals identified during July of last year, the projects reported last month equal an increase in capital spending of almost $50 million, and capital projects are what the market is measured against when looking for confidence or growth."

Among the largest new projects identified last month are plans for several grassroot plants and major unit additions. Phostech Lithium Incorporated (Saint-Bruno-De-Montarville, Quebec) plans to begin construction this fall on a grassroot lithium iron phosphate plant in Candiac, Quebec. This new plant will cost an estimated $78 million and will produce chemicals and materials used in the manufacture of batteries for the automotive and related markets. Ferus Incorporated (Calgary, Alberta) has announced plans for a grassroot nitrogen plant in Dawson Creek, British Columbia, that will produce an estimated 200 tons per day of nitrogen for the regional energy industry. The plant will cost more than $20 million to construct.

Both Air Products & Chemicals Incorporated (NYSE:APD) (Allentown, Pennsylvania) and Linde Gas North America LLC (Murray Hill, New Jersey) are respectively are preparing for a a new air-separation unit and an ultra-high-purity nitrogen unit.

Among the most interesting new projects identified last month are plans by FP-Pigments Oy (Espoo, Finland) to install a titanium pigments plant in Rome, Georgia, utilizing the existing infrastructure of a chemical company that previously operated at the site. Construction is planned to begin this fall for the estimated $20 million project, with startup expected by the summer of next year.

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Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.