SABIC
2010
2010
Saudi Basic Industries Corp. (SABIC) is the only Middle East firm in the Global Innovation 1000 list this year.
The giant petrochemical producer ranked 272 in the 1,000-strong list of innovative companies prepared by Strategy&, formerly Booz & Company, Trade Arabia reported. SABIC moved up from 304 last year to 272.
Total research and development (R&D) spent by SABIC in 2014 was $440 million, increasing 19% from $371 million in 2013.
The company’s average R&D intensity rose from 0.7% in 2013 to 0.9% in 2014. Barry Jaruzelski, senior partner at Strategy& and a co-author of the report, said “Companies say they’re better at innovating today than they were a decade ago.”
“It seems that companies can now do more with less, allowing them to moderate spending growth while still achieving results,” he noted.
The giant petrochemical producer ranked 272 in the 1,000-strong list of innovative companies prepared by Strategy&, formerly Booz & Company, Trade Arabia reported. SABIC moved up from 304 last year to 272.
Total research and development (R&D) spent by SABIC in 2014 was $440 million, increasing 19% from $371 million in 2013.
The company’s average R&D intensity rose from 0.7% in 2013 to 0.9% in 2014. Barry Jaruzelski, senior partner at Strategy& and a co-author of the report, said “Companies say they’re better at innovating today than they were a decade ago.”
“It seems that companies can now do more with less, allowing them to moderate spending growth while still achieving results,” he noted.
Source:
Mubasher
