Last week, I discussed how Google, Genentech, and 3M
The company intends to do so by devoting nearly $2 billion to cutting-edge research in five different areas: energy management, raw material change, plant biotechnology, white biotechnology (also known as industrial biotechnology), and nanotechnology. The strategy shouldn't surprise careful observers. Earlier this year, BASF announced that it would invest more than $200 million into nanotechnology and open a new nanotech research facility in Singapore.
This R&D will not only strengthen many of its existing nanotechnology partnerships, but should also complement some of the company's recent acquisitions. BASF has been purchasing nanoparticles from Nanophase
On a separate front, BASF acquired Engelhard this spring, in part because of the company's strong presence in the field of catalysis. Engelhard supplies proprietary nanoscale catalysts, both for catalytic converters in motor vehicles worldwide, and for the reduction of nitrogen oxide emissions among petroleum refiners. By combining its scientific know-how with Engelhard's, BASF should be able to improve any number of existing products.
Amusingly, this initiative might also add new life to the company's old slogan. For the longest time, its tag line has been, "At BASF, we don't make the products you know; we make the products you know better." If this new initiative bears out, there should be no need for the company to adopt a new slogan anytime soon.
Think small with further Foolishness:
Fool contributor Jack Uldrich does not make your investment decisions, but he likes to believe he helps you make the investment decisions you make better . He owns stock in Google. The Fool has a strict disclosure policy.