BASF continues to invest in research and development
Despite the global economic downturn, specialty chemicals company BASF is determined to continue to invest in research and development (R&D). The company spent approximately €1.34 billion on R&D in 2008, and plans to spend up to €1 billion in these key research areas are planned for the period 2009 to 2011.
Its research strategy will focus on energy management, raw material change, nanotechnology, plant biotechnology and white (industrial) biotechnology.
“The goal of our research is to expand existing technologies and markets and tap into new business potentials. We want to generate organic growth exceeding market growth levels,” says Dr Andreas Kreimeyer, member of the board of executive directors and research executive director.
Approximately 8,600 BASF employees are involved in research and development projects at 80 sites around the globe. It is currently pursuing around 1,800 research cooperations with partners around the world.
