07 May 2013 11:41 [Source: ICIS news]
LONDON (ICIS)--BASF reported sales of approximately €8.5bn ($11.2bn) in 2012 from new products that have been on the market for less than five years, the Germany-based chemicals producer said on Tuesday.
In 2012, BASF launched more than 250 new products onto the market, it added.
The company said it aims in 2020 to achieve sales of €30bn from new products that will have been on the market for less than ten years.
“Our research Verbund has increased its innovative strength to a new level of performance in 2012,” said Andreas Kreimeyer, a member of BASF's board of executive directors and research executive director.
In 2020, BASF plans to conduct half of its research outside Europe. "Our aim is to achieve greater access to customers, young scientists and innovation centers in the various regions,” Kreimeyer added.
In 2012, BASF opened seven new laboratories in Asia and the US and expanded laboratories worldwide. The proportion of research activities outside Europe increased from 24% in 2011 to 27% in 2012, the company said.
For the full year of 2012, BASF posted a total net profit of €4.9bn, compared with €6.2bn in the previous year, partly due to a decline in its chemicals business, while sales grew by 7% year on year to €78.7bn.
($1 = €0.76)
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