BASF forecasts sales of over €4 billion as of 2010
22/11/2006
Germany-based chemicals company BASF expects to generate annual sales of over €4 billion as of 2010 from new or improved products and applications that have been on the market for a maximum of five years. Up to 20% of that sum will be in additional sales such as revenues not generated simply by replacing existing products.
BASF's research and development expenditures in 2006 will amount to almost €1.3 billion–20% more than the comparative figure for 2005 (€1.06 billion). A further increase in expenditures to €1.4 billion is planned for 2007. These amounts will be used in the expansion of BASF's global research activities, such as research laboratories and the establishing of regional development centres.
"Innovations are the basis for profitable growth at BASF. Our goal is to expand our leadership through the continuous development of new products and solutions for our customers, and to constantly improve our competitive position through process development,” said BASF research executive director Dr Stefan Marcinowski at an event held in Ludwigshafen , Germany
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