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BASF affirms commitment to R&D with increased budget, will globalize research

6:37 AM MDT | May 27, 2014 | Natasha Alperowicz in Ludwigshafen

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 billion) on R&D compared with €1.70 billion in 2012 and is planning a similar increase this year. Of the total R&D expenditure last year, 21% went to growth fields, which include materials, systems, and nanotechnology; raw materials; and white...

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