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Attention Business, Technology and Economics Editors and Reporters
9 Alberta Firms Make Canada's Top 100 Corporate R&D Spenders List 2005
Toronto - October 18, 2005 - Nine Alberta companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. Together these companies accounted for $389.6 million in research and development (R&D) spending in Fiscal 2004, posting a huge increase of 33.1% from $292.8 million in Fiscal 2003. This is the largest increase in spending across the provinces. Over the same period, revenue rose by 23.1% from $52.4 billion to $64.5 billion in 2004.
#16 - EnCana Corporation leaped up the List from #36 position last year. This Calgary-based company - a Top Gainer this year and a $100 Million Club member - increased their R&D spending by 119.7% to $123.2 million in Fiscal 2004. Revenue at this company also grew by 13.0% to $16.2 billion.
#36 - NOVA Chemicals Corporation dropped 6 spots this year from 30th place last year. They reported a slight R&D spending decrease of -0.9% to bring their spending to $62.5 million in 2004. Revenue at this company climbed by 23.9% to $6.9 billion.
#44 - Precision Drilling Corporation moved up 3 spaces from 47th spot last year with a 14.9% increase in R&D spending from $42.4 million to $48.8 million in 2004. Revenue also grew by 21.2% in 2004 from $1.9 billion to $2.3 billion.
#56 - Westaim Corporation jumped 6 spots from their 62nd position last year with an increase of 38.2% in R&D spending. Their revenue grew at more than double that with an increase of 86.5% between 2003 and 2004 to $32.2 million.
#58 - Syncrude Canada Ltd. fell 20 spots this year with a decline in R&D spending of -32.1%, while increasing its revenue by 38.4% to $4.6 billion.
#69 - Shell Canada Limited new to the Top 100 List this year, shot up the ranks with an 180.0% increase in R&D spending to $28 million. Their revenue also grew by 27.5% to $11.2 billion.
#80 - Suncor Energy Inc. climbed 15 spots from 95th with R&D expenditures of $22.0 million, an increase of 18.9% between 2003 and 2004. Their revenue growth was almost double that at 36.8%, reaching $8.6 billion in Fiscal 2004.
#85 - Isotechnika Inc. is new to the Top 100 List this year increasing their R&D spending by 58.6%, revenues decreased over this period by -84.6%.
#90 - Petro-Canada moved up 5 places from 95th last year with R&D spending of $17.0 million.
"It's great to see many Alberta companies translating their revenue gains into increased R&D", said Ron Freedman, CEO, Research Infosource Inc.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. Research Infosource Inc., a division of The Impact Group, is Canada's source of R&D intelligence. Drawing from an extensive database, Research Infosource Inc. publishes Canada's Top 100 Corporate R&D Spenders List, Canada's Top 50 Research Universities List, and specialized reports.
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Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 481-7070 ext. 25
Toronto - October 18, 2005 - Nine Alberta companies made Canada's Top 100 Corporate R&D Spenders List 2005 released today by Research Infosource Inc. Together these companies accounted for $389.6 million in research and development (R&D) spending in Fiscal 2004, posting a huge increase of 33.1% from $292.8 million in Fiscal 2003. This is the largest increase in spending across the provinces. Over the same period, revenue rose by 23.1% from $52.4 billion to $64.5 billion in 2004.
#16 - EnCana Corporation leaped up the List from #36 position last year. This Calgary-based company - a Top Gainer this year and a $100 Million Club member - increased their R&D spending by 119.7% to $123.2 million in Fiscal 2004. Revenue at this company also grew by 13.0% to $16.2 billion.
#36 - NOVA Chemicals Corporation dropped 6 spots this year from 30th place last year. They reported a slight R&D spending decrease of -0.9% to bring their spending to $62.5 million in 2004. Revenue at this company climbed by 23.9% to $6.9 billion.
#44 - Precision Drilling Corporation moved up 3 spaces from 47th spot last year with a 14.9% increase in R&D spending from $42.4 million to $48.8 million in 2004. Revenue also grew by 21.2% in 2004 from $1.9 billion to $2.3 billion.
#56 - Westaim Corporation jumped 6 spots from their 62nd position last year with an increase of 38.2% in R&D spending. Their revenue grew at more than double that with an increase of 86.5% between 2003 and 2004 to $32.2 million.
#58 - Syncrude Canada Ltd. fell 20 spots this year with a decline in R&D spending of -32.1%, while increasing its revenue by 38.4% to $4.6 billion.
#69 - Shell Canada Limited new to the Top 100 List this year, shot up the ranks with an 180.0% increase in R&D spending to $28 million. Their revenue also grew by 27.5% to $11.2 billion.
#80 - Suncor Energy Inc. climbed 15 spots from 95th with R&D expenditures of $22.0 million, an increase of 18.9% between 2003 and 2004. Their revenue growth was almost double that at 36.8%, reaching $8.6 billion in Fiscal 2004.
#85 - Isotechnika Inc. is new to the Top 100 List this year increasing their R&D spending by 58.6%, revenues decreased over this period by -84.6%.
#90 - Petro-Canada moved up 5 places from 95th last year with R&D spending of $17.0 million.
"It's great to see many Alberta companies translating their revenue gains into increased R&D", said Ron Freedman, CEO, Research Infosource Inc.
Following two years of decline, signs are that corporate spending on research and development (R&D) began to recover in Fiscal 2004. Canada's top corporate R&D companies invested $11.3 billion in R&D activities in Fiscal 2004, an increase of 3.0% over Fiscal 2003. This rebound comes after a two-year downturn in R&D spending. In Fiscal 2004, 62 of the Top 100 companies increased their R&D expenditures. In Fiscal 2003, less than half (45 firms) increased their R&D investment.
Regionally, the 43 companies headquartered in Ontario accounted for just over half (55%) of all R&D spending with $6.2 billion. This represented a very slight decrease from 2003 (-0.3%). Quebec's 31 companies spent $3.86 billion in Fiscal 2004, up 5.2% over 2003. This represented 34% of total R&D expenditures. The 14 British Columbia-based firms invested $794 million, an increase of 6.1% and which represented 7% of the total. The 9 Alberta firms accounted for $389.6 million or 3% of Top 100 spending and posted the largest regional increase of 33.1% over 2003. Removing Nortel Networks from the Ontario calculations, 42 companies invested $3.6 billion, 42% of the total, an increase of 5.1%.
The complete Canada's Top 100 Corporate R&D Spenders List 2005 is available on the Research Infosource website, www.researchinfosource.com. An in-depth Canada's Top Corporate R&D Spenders Report 2005, based on over 650 companies, is slated for publication later this year. Research Infosource Inc., a division of The Impact Group, is Canada's source of R&D intelligence. Drawing from an extensive database, Research Infosource Inc. publishes Canada's Top 100 Corporate R&D Spenders List, Canada's Top 50 Research Universities List, and specialized reports.
Information: Ron Freedman, CEO, Research Infosource Inc. (416) 481-7070 ext. 31
Janet Sandor, Director of Communications (416) 481-7070 ext. 25