BASF buys additional €1.7 bn crop science assets from Bayer

BASF buys additional €1.7 bn crop science assets from Bayer

4:42 AM, 27th April 2018
BASF buys additional €1.7 bn crop science assets from Bayer
Complements BASF's agricultural solutions offer to farmers.

LUDWIGSHAFEN, GERMANY: BASF SE has agreed to acquire additional seeds and crop protection assets from Bayer AG valued at €1.7 billion, in context of Bayer’s planned acquisition of Monsanto.

The additional assets include:

  • Bayer’s entire vegetable seeds business, operating under the global trademark Nunhem,
  • seed treatment products sold under the Poncho, VOTiVO, COPeO and ILeVO brands,
  • the R&D platform for hybrid wheat and
  • the complete state-of-the-art digital farming platform xarvio.

The transaction also includes Bayer’s oilseed rape business in Australia; certain glyphosate-based herbicides in Europe, used mainly for industrial applications; the canola-quality juncea research and certain non-selective herbicide and nematicide research projects.

This acquisition is in addition to the agreement BASF and Bayer signed on October 2017, which entails the acquisition of Bayer’s global glufosinate-ammonium non-selective herbicide business; seeds businesses for key row crops in select markets and trait research and breeding capabilities for these crops along with the LibertyLink trait and trademark.

“With this acquisition, BASF will become an even better partner for farmers by strengthening our crop protection portfolio and entering the seeds business in key agricultural markets. Through the expanded scope, we are accelerating and broadening the basis for growth across all regions,” said Dr Kurt Bock, chairman of the board of executive directors of BASF SE.

“This is another important milestone shaping the future of BASF in agriculture, and we look forward to having the new colleagues join the team and play an active part in our future growth. Our customers will benefit from a balanced and highly innovative offering that will give them a real choice and help them develop their businesses successfully,” added Saori Dubourg, member of the Board of executive directors of BASF SE and responsible for the agricultural solutions segment

“With our expanded portfolio across seeds and traits, chemical and biological crop protection, soil and plant health, and digital farming applications, we will have even more tools to support farmers. When these transactions are completed, we will have more than 12,000 experienced employees working in agriculture to connect innovative thinking with practical action to help our customers increase their yields, crop quality and profitability,” said Markus Heldt, president of BASF’s crop protection division.

© Worldofchemicals News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

AkzoNobel appoints Andersen as member of supervisory board

AMSTERDAM, NETHERLANDS: AkzoNobel NV has appointed Nils Andersen as a new member of the supervisory board and subsequently appointed chairman by the b ...

Read more
CB&I bags storage contract for export facility in Canada

THE WOODLANDS, US: Chicago Bridge & Iron Company (CB&I) has been awarded a contract valued at nearly $35 million by a leading Canadi ...

Read more
BASF increases Basonat hardeners capacity at Ludwigshafen site

LUDWIGSHAFEN, GERMANY: BASF SE has expanded its capacities for the production of Basonat hardeners at the Ludwigshafen site. The high-quality polyisoc ...

Read more
BP names former Statoil CEO as next chairman

LONDON, UK: BP plc has appointed Helge Lund (55) to succeed Carl-Henric Svanberg as chairman of the company. Lund will join the BP board as chairman-d ...

Read more
DSM, Chromatic 3D Materials partner on 3D printing

GELEEN, NETHERLANDS: Royal DSM has entered into a partnership with Chromatic 3D Materials to introduce thermoset materials for 3D printing of finished ...

Read more
Bayer launches digital farming product in Europe

MONHEIM, GERMANY: Bayer has launched its xarvio field manager in five countries – Germany, France, Austria, Poland, and Ukraine. The n ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X