OTTAWA, CANADAMore than half of all new manufacturing plants go out of business within 6 years of starting up, according to a recently published study of Canada's manufacturing sector.
The study, titled "Death in the Industrial World: Plant Closures and Capital Retirement," is based on data from Canada's "Annual Survey of Manufacturers" from 1960 to 1999. The study found that 14 percent of new plants go out of business within their first year of production, with less than 20 percent of new plants still in operation after 15 years.