BASF ratcheting up global research funding

The Nation

The move is part of special attention the group is paying to inventions that show promise in giving an advantage over growing competition.

Since 2006, it has set aside more

than ¤900 million (Bt45.19 billion)

for five growth clusters: energy management, nanotechnology, industrial operations, plant biotechnology and raw materials.

"I have no doubt that we as a team will master the challenges ahead, even if the economic situation becomes a little more difficult," said chairman and executive director Juergen Hambrecht about last year's performance.

"The turbulent start to the year shows that we can expect a bracing headwind now and again in the coming months

in some businesses and respective

regions.

"Nevertheless, we must maintain our efforts to expand on our position as

the world's leading chemical manufacturer and further increase the value of BASF."

The group will also extend its role into the area of climate protection.

"Climate protection is an issue of strategic importance for us," he said.

"This applies to the products and solutions we develop in cooperation with our customers and bring to market. Naturally, it also applies to our internal processes. Our aim is therefore to be even more energy-efficient in our production activities at all our sites."

BASF says the amount of greenhouse-gas emissions saved by the use of its products is three times higher than the amount released during the manufacturing and disposal of BASF products.

Last year, its sales rose in all regions: 9 per cent in Europe, 5 per cent in North America, 18 per cent in Asia and 24 per cent in South America.