German seed seller KWS Saat has bowed out of an eleventh-hour bid for Bayer’s vegetable seed business saying it accepts a decision by the European Commission that BASF is the most suitable buyer.
“We have accepted the decision that the business will go to BASF,” a KWS spokesman said on Wednesday. “Possible new steps are now up to BASF.”
Bayer said on Tuesday it had won approval from the EU commission for BASF to take over the businesses it will divest to win regulatory clearance for its planned acquisition of Monsanto.
By Patricia Weiss
Source: Reuters
BASF has signed an agreement to sell its extruded polystyrene (XPS) Styrodur business to Karl Bachl Kunststoffverarbeitung, a fellow German company, as part of its strategy to focus on expandable polystyrene (EPS).
The approximately 50 employees involved in production, marketing, and sales will remain with BASF.
Barentz, a player in the speciality ingredients sector, has appointed Derk Jan Terhorst as group chief executive officer, effective immediately. Terhorst succeeds Terry Hill, who served as Interim CEO since May 2024. With over three years of experience at Barentz as Group CFO, Terhorst brings a robust background in financial management and strategic oversight.
Former Dow president and CEO Paul Oreffice died on Dec. 26 at his home in Paradise Valley, Arizona. He was 97. During Oreffice’s tenure at Dow, he is often credited with transforming the company from an American-focused industrial power into a global leader in chemicals and plastics.
