MOSCOW (MRC) -- Essen-based Evonik Industries, a leading specialty chemicals manufacturer, is investing over EUR4 billion in research and development, as per the company's press release.
"Our intention is to turn Evonik into one of the world's most innovative companies," affirmed Klaus Engel, the Chairman of the Executive Board, at today's R&D press conference in Wesseling. "Innovations are a key element of our growth strategy," noted Engel, who went on to announce continued high investments in research & development (R&D) for the future.
Thus, Evonik plans to invest over EUR4 billion in R&D over the next decade. Engel referred to innovations as the ‘elixir of life’ for the specialty chemicals industry: "Innovations open up new business areas and strengthen our leading market and technology positions." In fiscal year 2014, Evonik's R&D spending amounted to EUR413 million, an increase of 5% over the previous year (EUR394 million). The R&D investment ratio was 3.2% (2013 - 3.1%).
Evonik intends to make tangible improvements to its innovative power, as innovations are to make key contributions to revenues and earnings in the future. The company plans to significantly expand its innovation pipeline to keep up a steady flow of new products and solutions. Ulrich Kusthardt, who was appointed Chief Innovation Officer at Evonik earlier this year, presented a three-point plan for this purpose. "We must become more focused in our projects, more international in our research, and more open in our exchange of knowledge," said Kusthardt. The goal is to bring innovations to consumers with even greater speed and efficiency.
The Evonik R&D pipeline is well-filled with some 500 projects, with even greater focus to come from strategic innovation management. Promising innovation areas for Evonik include ingredients for the cosmetics industry, membranes, specialty materials for medical technology, food supplements and animal feed additives as well as composite materials.
The company held over 25,000 patents and patent applications in 2014. Some 250 new patents were filed last year - the equivalent of almost one invention per business day. With some 2,600 Evonik employees working in research at 35 sites, the company has continuously increased the value of its patent portfolio over the past years.
As MRC informed before, in July 2014, Evonik Industries announced an investment in the double-digit-million euro range in a new research center at the Rheinfelden site. Starting at the beginning of 2016, research into silanes will be carried out in modern laboratories in the four-story building. Silanes are used in the electronics industry, in the tire industry, for the production of adhesives and sealants as well as plastics, and in the construction industry.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around EUR12.9 billion and an operating profit (adjusted EBITDA) of about EUR2.0 billion.
MRC