Sector News

BASF cuts half the jobs at its plant biotech unit

February 25, 2016
Chemical Value Chain

BASF, the world’s largest chemicals group by sales, will cut half of the 700 jobs at its plant biotechnology business, slashing some early development projects in yield improvement and stress tolerance and all of its rice yield and corn fungal resistance projects.

BASF’s plant biotechnology unit is developing improved plant characteristics such as drought tolerability but relies on partners, the biggest being Monsanto, to bring finished seed products to market.

Alliances with such partners are not affected by the cutbacks, a spokeswoman said.

BASF, also the world’s third largest maker of farming pesticides, spends about 150 million euros ($165 million) per year on plant biotechnology research but has not disclosed sales or earnings figures for these activities.

A spokeswoman declined to comment on any cuts to annual budgets at the unit.

($1 = 0.9076 euros) (Reporting by Ludwig Burger; Editing by Maria Sheahan)

Source: Reuters

Related News

May 16, 2021

Holistically sustainable alternative for plastics and bioplastics

Chemical Value Chain

The Hamburg-based, female-founded startup traceless materials has developed a holistically sustainable alternative for plastics and bioplastics that is fully compostable in nature, contributing to solve the global plastic pollution.

May 16, 2021

Stora Enso and Pulpex pioneer fiber-based bottle industrialization for competitive prices

Chemical Value Chain

Sohrab Kazemahvazi, senior vice president and head of Stora Enso’s formed fiber business, tells PackagingInsights the partnership aims to create competitive pricing and volumes for fiber-based bottles.

May 16, 2021

Alfa Laval partners with EasyMining to develop new waste-utilization processes

Chemical Value Chain

Alfa Laval’s expertise in mechanical and thermal separation will ensure waste minimization, zero liquid discharge and chemical reuse within EasyMining’s processes.

Send this to a friend