Performance and progress
Our total annual R&D expenditure in 2014 was $259 million. We worked on 23 specific programmes developing sustainable products for the automotive, construction, metal processing, appliances and electrical steels markets, and these involved a combined expenditure of more than $108 million. We currently have 80 new products under development in R&D which are aimed at reducing CO2 emissions and fuel consumption. In 2014, we launched 20 new products that contribute directly to sustainability, 13 in the automotive market, and the others in the construction, appliances and electrical steels sectors. Greg Ludkovsky, our head of global R&D, received the Lifetime Achievement Award in the Platts Global Metals Awards in 2014.