Capex Cut But R&D Spending Holds

The economic downturn took its toll on chemical industry spending in 2009. Most capital expenditure was cut sharply in response to the economic downturn that began in second-half 2008, and carried into first-half 2009. Declines in R&D spending were moderate. Grant: Biggest spender. Tough: Third in line for R&D. Capex spending for the companies who provided data in The Billion-Dollar Club saw a median decline of 25.5% last year. PotashCorp of Saskatchewan (PotashCorp) had the highest ratio of capex spending as a percentage of sales, at 44%, to fund potash...

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