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This excerpt taken from the ICI 6-K filed Mar 21, 2007. Research and development Research and development expenditure is charged to profit in the year in which it is incurred.
This excerpt taken from the ICI 20-F filed Mar 31, 2006. Research and development
The Technology Board, comprising the senior business R&D managers, and led by the Group Vice President of R&D, is responsible for the development of the Group’s technology strategy and its implementation by the R&D staff employed by the Group’s businesses. In 2005, expenditure on R&D, excluding Technical Service, amounted to £147m (2004 £146m). This expenditure represented 2.5% of sales in 2005 (2004 2.6%) . Each of the Group’s businesses is responsible for its own R&D resources and for driving innovation to meet the needs of its customers and markets. The business R&D teams are complemented by a central R&D resource that aims to provide world-class capabilities that are common to all the businesses. The Group’s distributed technology network draws on the expertise across ICI, allowing new products and processes to be developed and exploited by individual businesses more rapidly, and stimulating new options from the combination of the technical capabilities of the Group’s different businesses. The Business Development Board aims to accelerate the commercial exploitation of technology opportunities within ICI, and reflects the desire to develop continuously and strengthen the links between market needs and technology capability. In 2005, the board continued to focus on the exploitation of the Group’s capabilities in delivery systems to control the in-use release of products in the personal care, flavours and fragrances markets. The board has also been working with the Technology Board in managing the portfolio of projects undertaken by the central technical resources, and in directing the Group’s networks on food and on personal care. Since 2003, the Group has had a Science Advisory Board which includes four leading external scientists who work with ICI’s senior research executive. The board’s remit is to help challenge and develop the Group’s expertise across the breadth of rapidly changing science and technology needed in its businesses. The Science Advisory Board has been closely involved in developing strategy in key capability areas such as high throughput experimentation, delivery systems, nutrition, fillers/resins and sensory science. The Group’s prime technology areas of biosciences, molecular sciences and materials have been established to support its goals in selected growth markets and to help establish its position as a leader in formulation science. Within each of these areas is a portfolio of projects that is intended to accelerate the Group’s long-term technology development. Bioscience has key areas of knowledge and expertise which the Group applies to the development of personal care, food and beverage products. Products to combat the rise in human obesity are an opportunity that ICI is addressing and show good potential. Molecular sciences underpin much of the Group’s product development, focusing in particular on high throughput R&D to explore novel molecules, formulations and processes. In addition to growing capabilities in the ICI businesses, a centre of excellence has been established with corporate funding to apply the high throughput experimentation methodologies in developing ICI’s position in formulation science and technology. Projects have been completed in areas such as personal care, lubricants, paint, materials development and sensory attributes of food and of beverages. Current projects in the materials area are directed towards increasing the Group’s ability to fabricate at the nanoscale for macroscale effects. From such research has come the rapidly growing ‘Dulux Diamond’ range, where exceptional hardness and durability is achieved at a highly competitive price through the control of polymer structure at the molecular level. Fundamental research on transport properties in filled polymer systems is carried out by the central resources and underpins the growth of the Electronic and Engineering Materials business of National Starch. The prime technology areas mentioned above are underpinned by strong capabilities in measurement science and in modelling, both critical elements of ICI’s strong formulation science base. Efficient formulation is a multi-functional business process, and investment in knowledge management tools and processes is a priority. The competitive edge of the Group comes from the combination of these capabilities, not merely the demonstration of excellence in any one area. With the steady growth of ICI’s business in China, the provision of technical capabilities in that region is of increasing importance. Existing applications laboratories are being developed, and it is planned to add local product development capability for growth businesses such as paints, adhesives and electronics. Common infrastructure needs in the businesses for measurement science and for emulsion polymerisation are being co-located in Shanghai. As part of the capability development plan six Chinese post-doctoral research employees joined the central research facility at Wilton in the UK in 2005.
Regulation, safety, security, health and the environment ICI’s businesses also voluntarily conform to many international and national codes of best practice. ICI attaches great importance to safety and health, to reducing any adverse environmental impact of its activities year-on-year and to developing products and services with improved environmental features. The main process by which the Group manages SSHE issues and seeks to meet its objectives is the Responsible Care Management System (RCMS). This sets out standards along with guidelines, training, auditing and procedures for reviewing and reporting performance, all of which are essential to continuous improvement.
The system covers operations on site as well as security, product stewardship and community relations. During 2005, Lloyd’s Register Quality Assurance Limited independently verified that RCMS complies with the American Chemistry Council’s new Responsible Care Management System (2004) and Security Code of Management Practices (2002) as well as the UK Responsible Care Codes, the certifiable international standards for environmental and occupational health and safety management systems, ISO 14001 and OHSAS18001, and the ICC (International Chamber of Commerce) Business Charter for Sustainable Development. ICI works to manage and minimise the risks associated with the soil and groundwater on its sites and has developed further procedures to enable the ranking of priorities for management attention. ICI is engaged in research aimed at developing and implementing more cost effective environmental remediation technologies, some of which is being undertaken in collaboration with other companies and academic institutes. The raw materials which the Group’s businesses use and the products that they produce are subject to demanding regulations concerning product safety in all parts of the world. These regulations, which also cover product testing and risk assessment requirements, are subject to review and revision, as is currently happening in Europe with the proposed REACH (Registration, Evaluation and Authorisation of Chemicals) regulations. The Group is assessing the potential impact of these proposals on its businesses and planning to ensure compliance when the new European Union regulations come into force. In addition, there is constant pressure from legislators, customers and the general public to reduce the environmental and health impacts of products throughout their life cycle. To meet these requirements, ICI has a ‘product stewardship’ programme in place within each business. This voluntary programme embraces, through robust business practices, product regulatory requirements, societal pressures, reducing the risk of harm to people and the environment, and the provision of relevant information to enable correct use and disposal of products. Anticipating external pressures and concerns and providing speedy, innovative solutions with lower environmental and societal impact is becoming a key aspect of sustaining competitive advantage. ICI recognises these pressures and is responding with the introduction of new processes, products and services that improve the efficiency of use of raw materials and utilities and reduce adverse effects. Processes are in place for regular reviews of environmental liabilities, and provisions held at 31 December 2005 were in accordance with the accounting policy described in the Group accounts on page 57. ICI believes that, within the existing legislative framework and taking account of the provisions already established, the cost of addressing currently identified environmental obligations (as ICI currently views these obligations) is unlikely to have a material adverse effect on its financial position or results of operations. During 2005 there were nine instances of breaches of environmental or product regulations which resulted in prosecutions or fines totalling £0.1m. Each was investigated and appropriate action taken.
Environment
This excerpt taken from the ICI 6-K filed Mar 14, 2006. Research and development
The Technology Board, comprising the senior business R&D managers, and led by the Group Vice President of R&D, is responsible for the development of the Group’s technology strategy and its implementation by the R&D staff employed by the Group’s businesses. In 2005, expenditure on R&D, excluding Technical Service, amounted to £147m (2004 £146m). This expenditure represented 2.5% of sales in 2005 (2004 2.6%) . Each of the Group’s businesses is responsible for its own R&D resources and for driving innovation to meet the needs of its customers and markets. The business R&D teams are complemented by a central R&D resource that aims to provide world-class capabilities that are common to all the businesses. The Group’s distributed technology network draws on the expertise across ICI, allowing new products and processes to be developed and exploited by individual businesses more rapidly, and stimulating new options from the combination of the technical capabilities of the Group’s different businesses. The Business Development Board aims to accelerate the commercial exploitation of technology opportunities within ICI, and reflects the desire to develop continuously and strengthen the links between market needs and technology capability. In 2005, the board continued to focus on the exploitation of the Group’s capabilities in delivery systems to control the in-use release of products in the personal care, flavours and fragrances markets. The board has also been working with the Technology Board in managing the portfolio of projects undertaken by the central technical resources, and in directing the Group’s networks on food and on personal care. Since 2003, the Group has had a Science Advisory Board which includes four leading external scientists who work with ICI’s senior research executive. The board’s remit is to help challenge and develop the Group’s expertise across the breadth of rapidly changing science and technology needed in its businesses. The Science Advisory Board has been closely involved in developing strategy in key capability areas such as high throughput experimentation, delivery systems, nutrition, fillers/resins and sensory science. The Group’s prime technology areas of biosciences, molecular sciences and materials have been established to support its goals in selected growth markets and to help establish its position as a leader in formulation science. Within each of these areas is a portfolio of projects that is intended to accelerate the Group’s long-term technology development. Bioscience has key areas of knowledge and expertise which the Group applies to the development of personal care, food and beverage products. Products to combat the rise in human obesity are an opportunity that ICI is addressing and show good potential. Molecular sciences underpin much of the Group’s product development, focusing in particular on high throughput R&D to explore novel molecules, formulations and processes. In addition to growing capabilities in the ICI businesses, a centre of excellence has been established with corporate funding to apply the high throughput experimentation methodologies in developing ICI’s position in formulation science and technology. Projects have been completed in areas such as personal care, lubricants, paint, materials development and sensory attributes of food and of beverages. Current projects in the materials area are directed towards increasing the Group’s ability to fabricate at the nanoscale for macroscale effects. From such research has come the rapidly growing ‘Dulux Diamond’ range, where exceptional hardness and durability is achieved at a highly competitive price through the control of polymer structure at the molecular level. Fundamental research on transport properties in filled polymer systems is carried out by the central resources and underpins the growth of the Electronic and Engineering Materials business of National Starch. The prime technology areas mentioned above are underpinned by strong capabilities in measurement science and in modelling, both critical elements of ICI’s strong formulation science base. Efficient formulation is a multi-functional business process, and investment in knowledge management tools and processes is a priority. The competitive edge of the Group comes from the combination of these capabilities, not merely the demonstration of excellence in any one area. With the steady growth of ICI’s business in China, the provision of technical capabilities in that region is of increasing importance. Existing applications laboratories are being developed, and it is planned to add local product development capability for growth businesses such as paints, adhesives and electronics. Common infrastructure needs in the businesses for measurement science and for emulsion polymerisation are being co-located in Shanghai. As part of the capability development plan six Chinese post-doctoral research employees joined the central research facility at Wilton in the UK in 2005. These excerpts taken from the ICI 20-F filed Apr 1, 2005. Research and development (R&D)
A Technology Board, comprising the senior business R&D managers and led by the Group Vice President of R&D, is responsible for the development of the Group’s Technology Strategy and its implementation by the R&D staff employed by the Group’s businesses. In 2004, expenditure on R&D by continuing operations before exceptional items and excluding Technical Service, amounted to £147m (2003 £150m; 2002 £148m). This expenditure represented 2.6% of sales in 2004 (2003 2.6%; 2002 2.5%). Each of the Group’s businesses is responsible for its own R&D resources and for driving innovation to meet the needs of its customers and markets. The business R&D teams are complemented by a central R&D resource that aims to provide world class capabilities that are common to all the businesses. The Group’s distributed technology network draws on the expertise across ICI thus allowing new products and processes to be developed and exploited by individual businesses more rapidly, and stimulating new options from the combination of the technical capabilities of the Group’s different businesses. In 2002, a Business Development Board was established, comprising senior managers from the individual Businesses, the Group Vice President of R&D, planning support from the Corporate Centre, and chaired by the Executive Vice President Uniqema. The purpose of the Board is to accelerate the commercial exploitation of technology opportunities within ICI, and reflects the desire to continuously develop and strengthen the links between market needs and technology capability. In 2004 the Business Development Board’s attention has been focused on the exploitation of the Group’s capabilities in Delivery Systems that control the in-use release of products in the personal care, flavours, and fragrances markets. The Business Development Board has also been working with the Technology Board in managing the portfolio of projects undertaken by the central technical resources, so as to optimise the business value to the ICI Group. ICI has appointed three leading academics to a Science Advisory Board to help challenge and develop its expertise in the breadth of rapidly changing science and technology needed in its Businesses. The appointees are Paul Calvert, Professor of Materials Science at the University of Massachusetts, Dartmouth; Jean Frechet, Professor of Chemistry at the University of California, Berkeley; and Gary Beauchamp, Director and President of the Monell Chemical Senses Center in Philadelphia. The Science Advisory Board has been closely involved in developing strategy in key capability areas such as High Throughput Experimentation, delivery systems, nutrition and fillers/resins. The Group’s prime technology areas, namely biosciences, molecular sciences, and materials, have been established to support its goals in selected growth markets. Within each of these areas is a portfolio of projects that is intended to accelerate the Group’s long-term technology development. Bioscience has key areas of knowledge and expertise, which the Group applies to the development of personal care, food and beverage products. Products to combat the rise in human obesity are an opportunity that ICI is already addressing and show good growth potential. The Business Development Board and the Technology Board are supporting projects in this sector to develop knowledge and strengthen capabilities. Molecular Sciences underpin much of the Group’s product development and here its focus is on high throughput R&D to explore novel molecules, formulations and processes. In addition to growing capabilities in the ICI businesses, a centre of excellence has been established with corporate funding to apply the High Throughput Experimentation methodologies in developing ICI’s position in formulation science and technology. Projects have been completed in areas such as personal care, lubricants, paint, and materials development. Current projects in the materials area are directed towards increasing the Group’s ability to fabricate at the nano-scale for macro-scale effects. From such research has come the recently – launched, Dulux Diamond Glaze range, where exceptional hardness and durability is achieved at a highly competitive price through the control of polymer structure at the molecular level. Fundamental research on transport properties in filled polymer systems is carried out by the central resources and underpins the growth of the Electronic and Engineering Materials division of National Starch. The prime technology areas mentioned above are underpinned by strong capabilities in measurement science, and in modelling, both critical elements of ICI’s strong formulation science base. The competitive edge of the Group comes from the combination of these capabilities, not merely the demonstration of excellence in any one area. With the steady growth of ICI’s business in China the provision of technical capabilities in that region is of increasing importance. Existing applications laboratories will be reinforced, and it is planned to add local product development capability for growth businesses such as paints, adhesives and electronics.
Research and development
Research and development expenditure is charged to profit in the year in which it is incurred.
This excerpt taken from the ICI 6-K filed Mar 16, 2005. Research and development
Research and development expenditure is charged to profit in the year in which it is incurred.
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