Valve Magazine - Summer 2010

CALENDAR

2010

New Metso Technology Center Opens
in Shanghai

The official inauguration of the Metso Tech-
nology Center took place on May 28 in
Shanghai. The opening of the center provides
facilities for the world’s newest valve factory
and supply center as well as facilities for the
production, assembly and testing of process
automation systems. In addition, the center
also comprises premises for the automation
business line’s sales, project and engineering units in China. All of the automation business
line’s units in the Shanghai area will be operating at the new center.

AUGUST

12-13
VMA Market Outlook
Workshop*
San Francisco, CA
www.vma.org
Gulf of Mexico: Offshore
Equipment Task Force Includes
VMA Member

SEPTEMBER

30-Oct. 2 VMA & VRC Annual Meeting* Coeur d’Alene, ID www.vma.org

MARKET FOCUS: CHEMICAL PROCESSING

Industry’s Outlook Rosier than Last Year

The chemical processing industry is showing signs of recovery, and even some growth, according to the latest research conducted by Industrial Info Resources. Plant operating rates are on the rise, investment spending is beginning to increase, and maintenance projects are also on the upswing, the research firm reports.

For the third quarter of this year, Industrial Info is tracking 266 capital and maintenance projects that are due to begin construction. That is an increase of more than 30% from the same quarter of last year. Another favorable sign is that project fallout (cancellation of planned projects) has decreased considerably. Only 23 capital and maintenance chemical projects in the U.S. and Canada that were planned for the third quarter have been placed on hold or cancelled, which is less than half of last year’s 52.

Meanwhile, nearly $900 million in project activity will begin construction during the third quarter of the year, Industrial Info reports, while operating rates are estimated to be in the mid- 70s range. In addition, maintenance spending is showing a considerable increase over last year. About 164 planned maintenance turnarounds—valued at more than $360 million—are expected to begin during the third quarter, compared to 131 turnarounds with a value of $275 million for the same quarter last year. For the second quarter, maintenance spending was expected to reach $471 million, a big jump from the $350 million spent in the second quarter of 2009.