Allen-Vanguard's R&D expenses mentioned in this article, nothing else regarding their "strategy".
R&D spending took hit even before crisis: report
Demise of Nortel will exacerbate the decline
By ERIC LAM, Canwest News ServiceOctober 21, 2009
Even before the financial crisis struck at the end of 2008, Canada's biggest companies were spending less on research and development, a new report says.
In fiscal 2008, Canada's top 100 corporate R&D spenders shelled out $10.09 billion on innovation, down $10 million from the year before, the report from Research Infosource Inc. said.
It was the third year in a row that R&D spending had dropped.
Leading the way is the soon-to-be defunct Nortel Networks, with $1.68 billion in spending, followed by Bell Canada at $985 million. Rounding out the top five
are Magna International ($692.9 million), Pratt & Whitney Canada ($442 million) and IBM Canada ($397 million).
Overall, 59 actually increased their spending during the year, while 40 posted declines and one remained static.
In all, 19 companies spent at least $100 million on research and development, accounting for two-thirds of total spending.
Ron Freedman, CEO of Research Infosource, said it was disappointing to see that R&D spending had dropped even during the boom period of 2008.
"It's disappointing that even as corporate revenues were growing, many firms opted not to increase their investments in research and development," he said. "With Nortel Networks' demise on the horizon, total corporate R&D spending is set to deteriorate further."
Ottawa-based Allen-Vanguard, a company specializing in developing equipment against hazardous threats, increased its research spending by 263.5 per cent, the greatest increase on the list by a wide margin.
Conversely, Ballard Power Systems posted one of the biggest declines, down 37 per cent.
The company has long pushed for the development of zero-emission fuel cell technology, but with mixed success.
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