Dairy foods group Ebro Puleva revealed earlier today [Thursday] that it plans to earmark 4% of its annual revenue to fund its research and development (R&D) activities.

Vice president Guillermo Mesonero-Romanos explained that the development of new products will be a key strategy and Ebro Puleva has already ploughed €93m (US$91.3m) from its €2.3bn turnover in 2001 to R&D.

According to a report in Expansion, the firm operates two R&D centres, which are based in Granada, southern Spain and in Valladolid, western Spain.