BASF focuses on sustainability, innovation as growth drivers

29 March 2012 13:14  [Source: ICIS news]

LONDON (ICIS)--BASF is “intensifying” its focus on sustainability and innovation as growth drivers by increasing its research and development (R&D) spending in 2012, the German chemical major said on Thursday.

BASF said it is realigning its research, while focusing strongly on its markets.

The company is planning to increase its R&D spending to €1.7bn ($2.3bn) in 2012, up from €1.6bn in 2011.

“To seize growth opportunities we are systematically expanding our product and technology portfolio, establishing an even more global presence and increasing our efforts to develop solutions for a sustainable future,” said BASF research executive director Andreas Kreimeyer.

“Effective and efficient research is an important success factor for achieving our growth targets and is simultaneously a factor distinguishing us from our competitors. Research and development will therefore have even greater priority in the future than before,” added Kreimeyer. 

($1 = €0.75)

By: Leigh Stringer
+44 208 652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index