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First Notice: Engineered wood market update; CAPP predictions; Aecon year-end report

DCN-JOC News Services
First Notice: Engineered wood market update; CAPP predictions; Aecon year-end report

 

Global engineered wood market to hit $400B by 2027: report

A new report from Allied Market Research states the engineered wood market reached $284.76 billion in 2019 and is projected to reach $400.45 billion by 2027. The report noted the COVID-19 pandemic and subsequent shutdowns in construction, manufacturing, tourism and hotels decreased the demand for engineered wood but a surge in use of engineered wood over other materials and an increase in reconstruction, renovation and remodeling of older buildings will drive growth. A sample of the report can be viewed here.

CAPP predicts hike in oil and gas capital spending

The Canadian Association of Petroleum Producers (CAPP) is forecasting a 14 per cent increase in upstream natural gas and oil investment in 2021. Capital spending in the sector is expected to be around $3.36 billion higher this year, CAPP revealed this morning, reaching $27.3 billion, compared to an estimated total investment of $24 billion in 2020. Conventional oil and natural gas capital investment for 2021 is forecast at $20 billion, up from an estimated $17.2 billion last year. Capital investment in the oilsands is forecast at $7.3 billion in 2021, up from an estimated $6.7 billion total in 2020.

Aecon schedules year-end report

Aecon Group Inc. announced today that it intends to release its fourth quarter and year-end 2020 financial results on Feb. 25 after market close and has scheduled a conference call and live webcast for 10 a.m. EST on Feb. 26. President and CEO Jean-Louis Servranckx and EVP and CFO David Smales will host the conference call.

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