BASF realigns research, invest €1.7 billion in R&D

BASF realigns research, to invest €1.7 billion in R&D

7:36 AM, 30th March 2012
BASF realigns research, to invest €1.7 billion in R&D
Dr Andreas Kreimeyer, Member of the Executive Board, BASF.

LUDWIGSHAFEN, GERMANY: BASF is realigning its research and is focusing even more strongly on the market and the global customer industries. Alongside the further development of the established business portfolio, the main research emphasis is being placed on growth and technology fields that address social challenges and offer BASF relevant business potential. This new orientation is based on BASF’s ‘We create chemistry’ strategy through which the company is intensifying its focus on sustainability and innovation as growth drivers.

For 2012, BASF is planning to increase its research and development spending to €1.7 billion. To accomplish this, BASF is strengthening its collaboration with key industries and concentrating on growth fields relevant to society such as heat management, water treatment and organic electronics. These are new business areas for BASF with high growth potential. At the same time, enabling technologies have been defined, such as raw material change, material systems and nanotechnology as well as industrial biotechnology, which are needed to generate solutions for the growth fields.

“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. The aim of the new structure is to significantly expand our portfolio of functionalized materials and system solutions and continue improving our position in the emerging markets,” said Dr Andreas Kreimeyer, Member of the Executive Board, BASF.

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