BASF counts on 2019 rebound after annual profits slump

German chemicals giant BASF said Tuesday a restructuring, expansion and a worldwide economic rebound should help it to a stronger 2019, after its bottom line last year was battered by headwinds for vital customer industries ...

Bayer sells crop science units to ease Monsanto takeover

Germany's Bayer said Friday it would sell parts of its agrichemical business to rival BASF, kick-starting a competitor in the seeds market even as it clears the way for its mammoth takeover of US-based Monsanto.

Syngenta challenges EU's bee-saving pesticide ban

Swiss agrichemical giant Syngenta said on Tuesday it was taking the European Commission to court over its suspension of the use of an insecticide it blames for killing bees.

Monsanto drops bid to grow new GM foods in EU

US agro-chemicals giant Monsanto said Thursday it will drop all requests to be allowed to grow new genetically modified foods in the European Union, which has for years held up approval.

EU bans yet another pesticide harmful to bees

The European Union on Tuesday restricted the use of the insecticide Fipronil, the latest move to protect honey bees after a May ban on three other insecticides.

EU to check US wheat for GM contamination

The European Commission said Thursday it has asked EU member states to check imports of wheat from the United States which may be tainted with a genetically modified strain made by US agrochemicals giant Monsanto.

Italy asks EU to halt GM maize cultivation

The Italian government has asked the European Commission not to renew authorisation of a key genetically-modified corn, according to a letter seen by AFP on Thursday.

BASF halts EU approval process for GM potatoes

BASF, the world's biggest chemicals company, said Tuesday it has decided to no longer seek European approval of its genetically modified potato products in the face of stiff resistance.

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BASF

BASF SE is the largest chemical company in the world and is headquartered in Germany. BASF originally stood for Badische Anilin- und Soda-Fabrik (English: Baden Aniline and Soda Factory). Today, the four letters are a registered trademark and the company is listed on the Frankfurt Stock Exchange, London Stock Exchange, and Zurich Stock Exchange. The company delisted its ADR from the New York Stock Exchange in September 2007.

The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, Americas and Africa. Its headquarters is located in Ludwigshafen am Rhein (Rhineland-Palatinate, Germany). BASF has customers in over 200 countries and supplies products to a wide variety of industries. Despite its size and global presence BASF receives little public attention as it abandoned consumer product lines in the 90s.

At the end of 2010, the company employed more than 109,000 people, with over 50,800 in Germany alone. In 2010, BASF posted sales of €63.87 billion and income from operations before special items of about €8.1 billion. The company is currently expanding its international activities with a particular focus on Asia. Between 1990 and 2005, the company invested €5.6 billion in Asia, for example in sites near Nanjing and Shanghai, China and Mangalore in India.

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