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Unilever: No cut in R&D

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-04-03 18:34

Unilever, one of the world's largest household products manufacturers, will not cut its research and development budget despite the sluggish global economy, said a senior company executive.

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With 6,000 R&D professors, the company invested 928 million euros ($1.24 billion), or 2 percent of turnover in the R&D sector in 2008, said Paul Sherratt, director of operations at Unilever R&D Port Sunlight.

Though Unilever's market share in China is still lower than P&G, Sherratt said its growth rate has beaten the company's major competitor.

"And China is definitely a strategic priority for us," he added. "The company's major target for 2009 is to increase the volume growth and to protect cash flow. And we will also consider M&A chances at appropriate time."