Table of Contents

Executive Summary

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TABLE OF CONTENTS

EXECUTIVE SUMMARY

INTRODUCTION

Definitions

Methodology

The UK Economy

Overview

Political Climate

Interest Rates

Inflation

Exchange Rates

Taxation

Consumer Demand

Output

Investment

Forecasts

Abbreviations

MARKET OVERVIEW

Market Size, 1993-1997

Market Segmentation, 1993-1997

Factors Affecting Demand

Forecast Segmentation, 1998-2002

CHEMICAL INDUSTRY

Market Size, 1993-1997

Investment Trends

Distribution Of Investment

By Sector

By Region

Market Forecasts, 1998-2002

FOOD & DRINK PROCESSING

Market Size, 1993-1997

Investment Trends

Distribution of Investment

Market Forecasts, 1998-2002

OIL & GAS PRODUCTION

Market Size, 1993-1997

Investment Trends

Distribution Of Investment

Market Forecasts, 1998-2002

WATER INDUSTRY

Market Size, 1993-1997

Investment Trends

Distribution Of Investment

Market Forecasts, 1998-2002

ELECTRICITY GENERATION

Market Size, 1993-1997

Investment Trends

Distribution Of Investment

By Sector

By Company

Market Forecasts, 1998-2002

PETROLEUM REFINING

Market Size, 1993-1997

Investment Trends

Market Forecasts, 1998-2002

IRON & STEEL INDUSTRY

Market Size, 1993-1997

Investment Trends

Market Forecasts, 1998-2002

GAS SUPPLY

Market Size, 1993-1997

Investment Trends

Distribution Of Investment

Market Forecasts, 1998-2002

NUCLEAR FUEL REPROCESSING

Market Size, 1993-1997

Investment Trends

Market Forecasts, 1998-2002

OPPORTUNITIES FOR SUPPLIERS

Chemical Industry

Food & Drink Processing

Oil and Gas Production

Water Industry

Electricity Generation Industry

Petroleum Refining

Iron & Steel Industry

Gas Supply Industry

Nuclear Fuel Processing

INDUSTRY STRUCTURE

Overview

Company Profiles

APV

Babcock King-Wilkinson (formerly Babcock Contractors)

Halliburton Brown & Root

Fluor Daniel

Foster Wheeler

M W Kellogg

Kvaerner

Motherwell Bridge Holdings

Simon-Carves

Tetra Pak

TRADE ASSOCIATIONS AND INDUSTRY REGULATORS

MAGAZINES

List of Tables

1 Economic Indicators On The UK Economy, 1989-1998

2 Capital Expenditure By The UK Process Industries, 1993-1997

3 Capital Expenditure By The UK Process Industries, By Sector, 1993-1997

4 UK Process Plant Expenditure, By Sector, 1993-1997

5 Forecast Capital Expenditure By The UK Process Industries, By Sector, 1998-2002

6 Forecast UK Process Plant Expenditure, By Sector, 1998-2002

7 UK Capital Expenditure By The Chemical Industry, 1993-1997

8 Capital Expenditure By The UK Chemical Industry, By Purpose Of Investment, 1993-1997

9 Capital Expenditure On Environmental Protection, Energy Saving And Health And Safety By The UK Chemical Industry, 1993-1997

10 Capital Expenditure By The UK Chemical Industry, By Chemical Sector, 1993-1997

11 Capital Expenditure On Process Plant Projects By The UK Chemical Industry, By Region, 1996 And 1997

12 Forecast UK Capital Expenditure By The Chemical Industry, 1998-2002

13 UK Capital Expenditure By The Food & Drink Processing Industry, 1993-1997

14 UK Capital Expenditure On Process Plant By The Food & Drink Processing Industry, By Sector, 1993-1997

15 Forecast UK Capital Expenditure In The Food & Drink Processing Industry, 1997-2001

16 Capital Expenditure By The UK Oil & Gas Production Industry, 1993-1997

17 Capital Expenditure By The UK Oil & Gas Production Industry, By Type Of Equipment, 1993-1997

18 Forecast Capital Expenditure By The UK Oil & Gas Production Industry, 1996-2002

19 UK Capital Expenditure By The Water Industry, 1993-1997

20 UK Capital Expenditure By The Water Industry, By Region, 1993-1997

21 UK Capital Expenditure By Water Service Companies, By Company, 1993-1997

22 Forecast UK Capital Expenditure By The Water Industry, 1998-2002

23 Forecast UK Capital Expenditure By The Water Industry, By Region, 1998-2002

24 Forecast Average Annual Capital Expenditure By The UK Water Industry, By Company, 1995/96-2004/05

25 UK Capital Expenditure In The Electricity Generation Industry, 1993-1997

26 UK Electricity Generated, By Type Of Plant, 1993-1997

27 UK Capital Expenditure By The Electricity Generation Industry, By Company, 1993-1997

28 Forecast UK Capital Expenditure By The Electricity Generation Industry, 1998-2002

29 UK Capital Expenditure By The Petroleum Refining Industry, 1993-1997

30 Utilisation Of UK Refinery Capacity By The Petroleum Refining Industry, 1993-1997

31 Forecast UK Capital Expenditure By The Petroleum Refining Industry, 1998-2002

32 UK Capital Expenditure By The Iron & Steel Industry, 1993- 1997

33 Forecast UK Capital Expenditure By The Iron & Steel Industry, 1998-2002

34 UK Capital Expenditure By The Gas Supply Industry, 1993- 1997

35 UK Process Plant Expenditure By The Gas Supply Industry, 1993-1997

36 Forecast UK Capital Expenditure By The Gas Supply Industry, 198-2002

37 UK Capital Expenditure By The Nuclear Fuel Reprocessing Industry, 1993-1997

38 Forecast UK Capital Expenditure By The Nuclear Fuel Reprocessing Industry, 1998-2002

39 Financial Summary Of APV, 1992-1996

40 Turnover Of APV, By Type Of Business, 1995 And 1996

41 Turnover Of APV, By Geographical Destination, 1995 And 1996

42 Financial Summary Of Babcock King-Wilkinson, 1991-1995

43 Financial Summary Of Babcock King-Wilkinson, By Geographical Region, 1994 And 1995

44 Financial Summary Of Halliburton Brown & Root, 1992-1996

45 Turnover Of Halliburton Brown & Root, By Geographical Region, 1994-1996

46 Financial Summary Of Fluor Daniel, 1992-1996

47 Turnover Of Fluor Daniel, By Geographical Region, 1995 And 1996

48 Financial Summary Of Foster Wheeler, 1995 And 1996

49 Turnover Of Foster Wheeler, By Geographical Region, 1995 And 1996

50 Financial Summary Of M W Kellogg, 1992-1996

51 John Brown Companies' Name Changes, 1996

52 Financial Summary Of Kvaerner, 1992-1996

53 Financial Summary Of Kvaerner's Engineering Division, 1993-1996

54 Turnover Of Kvaerner's Engineering Division, By Type Of Business, 1995 And 1996

55 Financial Summary Of Motherwell Bridge Holdings, 1992-1996

56 Turnover Of Motherwell Bridge Holdings, By Type Of Business, 1995 And 1996

57 Turnover Of Motherwell Bridge Holdings, By Geographic Region, 1995 And 1996

58 Financial Summary Of Simon-Carves, 1993-1996

59 Financial Summary Of Tetra Pak, 1992-1996

List of Diagrams

1 UK Process Plant Expenditure By The Chemical Industry Compared With The Industry Total, 1992-2001

2 UK Process Plant Expenditure By The Food & Drink Processing Industry Compared With The Industry Total, 1993-2002

3 UK Process Plant Expenditure By The Oil & Gas Production Industry Compared With The Industry Total, 1993-2002

4 UK Process Plant Expenditure By The Water Industry Compared With The Industry Total, 1993-2002

5 UK Process Plant Expenditure By The Electricity Generation Industry, Compared With The Industry Total, 1993-2002

6 UK Process Plant Expenditure By The Petroleum Refining Industry Compared With The Industry Total, 1993-2002

7 UK Process Plant Expenditure By The Iron & Steel Industry Compared With The Industry Total, 1993-2002

8 UK Process Plant Expenditure By The Gas Supply Industry Compared With The Industry Total, 1993-2002

9 UK Process Plant Expenditure By The Nuclear Fuel Reprocessing Industry Compared With The Industry Total, 1993-2002

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EXECUTIVE SUMMARY

MSI believe that total capital expenditure by the UK process industries was increased by 5 percent in 1997 to reach a value of £16.3 billion. Process plant investment was estimated to account for 46 percent of total investment at £7.5 billion, an increase of 3 percent on 1996.

During 1997, process plant capital expenditure is projected to have increased in each of the following sectors:

- chemical industry

- food & drink processing

- oil & gas production

- water industry

- iron & steel industry

Attempts to improve efficiency and increase capacity, and a release of pent up demand following under-investment in the early 1990s have resulted in the overall increase in capital expenditure by the UK process industries in 1997. Additionally, an increase in prices in certain sectors created a greater availability of funds for investment.

The principal factors affecting demand for process plant include:

- The UK economic environment

- environmental health & safety legislation

- regulatory and governmental energy reviews

- international competition

The relative buoyancy of future capital expenditure in the food & drink processing and gas supply sectors will not be enough to offset the decline in investment on process plant by many of the industries between 1998 and 2002. Therefore, MSI believe that total capital expenditure by the UK process industries will be reduced throughout the forecast period.

Since few process plant companies manufacture the complete range of products required by various industries, the process plant supply sector is highly fragmented. However, there are a number of large turnkey contractors and operators who are capable of constructing plant consisting of individual components which originate from a wide range of manufacturers.

Text © 1997 MSI

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