Artecola invests heavily in R&D
The Artecola Group, based in Campo Bom, Brazil, is to invest approximately R$10 million (US$4.6 million) in research and development (R&D). This investment is five times the average percentage normally devoted to R&D by Brazilian companies, according to the Technological Innovation Industry Research (Pintec), a body of the Brazilian Institute of Geography and Statistics (IBGE).
“We are increasing our investment in R&D because it is one of the main tools for innovation,” said, Eduardo Kunst, managing president at Artecola.
The higher budget for new technology research will help the company advance, although its commitment to R&D is not new, having based its operations on innovation since it was founded in 1948.
The firm expects to obtain 25% of its 2009 revenue from new products. In 2008, the percentage was 19% and comprised a range of more than 2,000 items.
Artecola has also announced that it has ended its 25-year partnership with German company Rhenoflex. “It was our first technological partnership which played a very important role in the set-up of the R&D model used by Artecola today,” explained Mr Kunst. Rhenoflex has been informed of the decision and will continue working with Artecola until the middle of the year.
