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BASF to Increase R&D Spending

5:15 AM MST | February 4, 2011 | Ian Young

BASF says it intends to increase R&D spending in 2011. The company did not mention a projected figure for this year, but it says that R&D spending increased to record levels of almost €1.5 billion in 2010 from about €1.4 billion in 2009. Andreas Kreimeyer, BASF board member/research, announced the figures at a press briefing in Ludwigshafen today. BASF is participating in about 1,900 cooperative R&D projects worldwide, Kreimeyer says. BASF exceeded "by a substantial margin" a target, set for 2010, of generating sales of €6...

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