OREANDA-NEWS. BASF had sales of approximately EUR 8.5 billion in 2012 from new products that have been on the market for less than five years. “Our research Verbund has increased its innovative strength to a new level of performance in 2012,” said Dr. Andreas Kreimeyer, member of the Board of Executive Directors of BASF SE and Research Executive Director, at the Research Press Conference in Ludwigshafen. In 2012, BASF launched more than 250 new products onto the market. “If we also include new formulations and optimized products, the total actually runs to several thousand,” added Kreimeyer. In 2020, BASF aims to achieve sales of EUR 30 billion from new products that have been on the market for less than ten years.

The company’s innovative strength is also reflected in the Patent Asset Index of the WHU – Otto Beisheim School of Management, Vallendar, Germany. This index compares the effects of the patent portfolio on the competitiveness and innovative strength of companies. In 2012, BASF took first place in the Patent Asset Index in the chemical industry for the fourth consecutive time.

To continue being successful with innovations, in 2012 BASF increased its research and development expenditures to EUR 1.7 billion (2011: EUR 1.6 billion). At present around 10,500 employees are working in international and interdisciplinary teams on about 3,000 projects worldwide.