Germany chems to boost R&D spending in 2012, despite tough economy

11 September 2012 16:30  [Source: ICIS news]

LONDON (ICIS)--Germany’s chemical and pharmaceutical producers aim to further increase their spending on research and development (R&D) this year - despite tough economic conditions, a trade group said on Tuesday.

The industry’s R&D spending will be around €9.2bn ($11.8bn) in 2012, up from €8.8bn in 2011 when it rose 6.5% from 2010, Frankfurt-based chemical producers association VCI said

BASF executive board member Andreas Kreimeyer, who heads VCI’s research and science portfolio, said that chemicals and pharmaceuticals rank among Germany’s most innovative industrial sectors.

The strong position German chemical firms have on international markets is primarily the result of their continued research and their ability to innovate, Kreimeyer said.

He also called for tax incentives for R&D and measures to ease the access to risk capital, in particular for small- and medium-sized chemical firms.

Germany’s chemicals and pharmaceuticals industry employs about 41,500 people in its research laboratories, according to VCI.

($1 = €0.78)

By: Stefan Baumgarten
+1 713 525 2653

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