Basically, industries are based on science which produced at universities. based on this fact, R & D departments should work close to university faculties.
The collaboration is important, so that research has a real-world context. The solution to industrial problems via academic research can create economic impact for the company and country i.e. incresed revenue (more tax), more jobs and graduates that have experience of working in industry. For the University this will increase the liklihood of other industries wanting to work with them, and may also increse the amount of grant funding they receive from government.