23 January 2008 23:56 [Source: ICIS news]
NEW YORK (ICIS news)--Basel, Switzerland-based Lonza announced on Wednesday the creation of a new organisation to develop breakthrough technologies and new business platforms across all divisions of the leading fine chemical producer.
The initiative, known as LIFT, for “Lonza Innovation for Future Technology”, will be funded in the low double-digit SFr millions range annually, according to a company official.
The LIFT Initiative establishes a full-time team to manage and drive innovation projects in both chemistry and biotechnology. Projects will be chosen based on input from the three divisions -- exclusive synthesis & biotechnology, organic fine & performance chemicals, and polymer intermediates. They will also be based on input from innovation workshops across the company and from experts outside the company.
The focus will be on long-term projects, with five to eight years expected between initial ideas and business implementation. Expected peak sales will then follow in 10-12 years.
“We are convinced that LIFT is the right initiative to secure future growth for Lonza,” said Lukas Utiger, a member of Lonza’s management committee and head of both the organic fine & performance chemicals division and the exclusive synthesis business sector.
“LIFT will generate great ideas leading to new technologies, thus helping to maintain and expand the leading position of Lonza as supplier of choice to the life-science Industries”, the company said.
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