BASF said today that it plans to increase its 2014 R&D budget to 3% of group sales, excluding oil and gas. At today’s annual research press conference, devoted to nanotechnology, at Ludwigshafen, Andreas Kreimeyer, board member/research, said that last year the company spent ?1.84 billion ($2.51 bil- lion) on R&D compared with ?1.70 billion in 2012 and is plan- ning a similar increase this year. Of the total R&D expenditure last year, 21% went to growth felds, which include materi- als, systems, and nanotechnology; raw materials; and white biotechnology. Sales of products, which have been on the market for less than fve years, amounted to about ?8.00 bil- lion. The company launched more than 300 new products last year. “BASF is on track to achieve its target for sales of new products and technologies within the We create chemistry strategy,” Kreimeyer says. Those targets are for sales of prod- ucts launched since 2011: ?10 billion in 2015 and ?30 billion by 2020.
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