BASF funds €100mn for 'raw material change' research
21 Nov '06
3 min read
BASF expects to generate annual sales of over €4 billion as of 2010 from new or improved products and applications that have been on the market for a maximum of five years. Up to 20 percent of that sum will be in additional sales, i.e. revenues not generated simply by re-placing existing products.
"Innovations are the basis for profitable growth at BASF. Our goal is to expand our leadership through the continuous development of new products and solutions for our cus-tomers, and to constantly improve our competitive position through process development,” said BASF Research Executive Director Dr. Stefan Marcinowski at the Journalists and Scientists in Dialog" event in Ludwigshafen.
Sales from product innovations are set to increase to more than €5 billion per year in 2015.
BASF's research and development expenditures in 2006 will amount to almost €1.3 billion, which is 20 percent more than the comparative figure for 2005 (€1.06 billion). A further increase in expenditures to €1.4 billion is planned for 2007.
These amounts go toward the expan-sion of BASF's global research activities, for example the worldwide expansion of research laboratories and the establishing of regional de-velopment centers.
"We are continuously injecting new ideas into our research pipeline. Our acquisitions in the areas of catalysis, construc-tion chemicals and plant biotechnology give us exciting new sources of profitable growth," Marcinowski added.
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