26 August 2010 16:43 [Source: ICIS news]
Last year, the country’s chemical industry spent €8.3bn ($10.5bn) on R&D, unchanged from 2008, despite the economic crisis, Frankfurt-based VCI said.
“If you cut back on R&D during a crisis, you will lose out to competitors in the recovery,” said Andreas Kreimeyer, the BASF executive board member who heads VCI’s R&D portfolio.
Going forward, a particular research focus for
Kreimeyer said that
However, he was confident that with government support,
At the same time, Kreimeyer called on
While the government needed to save and cut debts, investment in R&D was the basis for growth and future tax revenues, he said.
VCI represents about 1,650 Germany-based chemical firms.
($1 = €0.79)
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