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DuPont to push up its R&D spending(Shanghai Daily)Updated: 2006-11-03 14:20 Dupont Co plans to double global investment in research and development by 2015 as its works to meet its energy sustainability goals, including major new investment in China, company executives said yesterday in Beijing. The US chemical maker last year spent US$1.33 billion on R&D. Rivals 3M Co invested US$1.2 billion, and Dow Chemical Co spent US$1.1 billion. Among other new developments, officials said DuPont's annual revenue will grow to US$2 billion or more by 2015 from products that advance energy efficiency and reduce greenhouse gas emissions. It didn't provide current data. The firm also wants to double annual revenue to US$8 billion from non-depletable resources, such as bio-fuels. Executive Vice President Ellen J. Kullman said these new commitments were made after previous goals were achieved ahead of schedule. DuPont has established a plan to cut its greenhouse gas emissions by 65 percent between 2000 and 2010. It said it realized a reduction of 72 percent as early as 2004. The improvements helped reduce the company's energy use to six percent below 1990 levels, saving US$3 billion. Douglas W. Muzyka, vice president in charge of China business, reaffirmed the company's blueprint to double overall corporate investment in the country to more than US$1.2 billion by 2010, a plan he describes as "ambitious." The goal is tied to plans that include a new titanium dioxide plant in Shandong Province, a new line in the com-pany's flagship manufacturing plant in Shenzhen and increasing investment in DuPont's R&D hub in Shanghai. (For more biz stories, please visit Industry Updates) |
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