BASF to concentrate its Agricultural Research

- Future R&D in Ludwigshafen/Limburgerhof, Germany
   and Research Triangle Park, North Carolina
- Research Center in Princeton, NJ, to be closed
- Improved chances for further growth

MOUNT OLIVE, New Jersey, May 14, 2001 - Following its July 2000 acquisition of the Crop Protection Business of American Home Products, BASF announced today that it will discontinue its Princeton, NJ R&D activities by June 30, 2002 and close its Agro Research Center located in Princeton by the end of the third quarter 2002. Roughly 500 positions will be affected by this decision, thereof approximately 200 site support services.

In the future, BASF will center its Agricultural Products research activities in Ludwigshafen/Limburgerhof, Germany, where it can take advantage of the existing substantial research capabilities and infrastructure. Major development activities will be concentrated in Limburgerhof and Research Triangle Park, North Carolina, USA.

"This concentration will significantly increase our research efficiency," says Hans Reiners, President, BASF Agricultural Products Division. "We strengthen the existing Research Verbund and found the basis for further profitable expanding our excellent position in global agricultural products business."

The transition period will ensure that ongoing projects at Princeton can be completed on schedule. Reductions of approximately 200 positions will occur in the third quarter 2001. The remaining employees will be asked to stay on to finish ongoing projects, and guarantee the continuity and transfer of needed know-how and capabilities. This process ensures that all business objectives relating to the R&D activities will be met.

BASF's Agricultural Products Division, based in Mount Olive, New Jersey, U.S.A., is a leading supplier and marketer of herbicides, fungicides and insecticides. The division's principal products are sold mainly to farmers who use them to improve crop yields and quality. Based on broad experience in R&D, manufacturing, marketing, and sales expertise, the BASF Agricultural Products division vision is to be the world's leading innovator, optimizing agricultural production, improving nutrition, and thus enhancing the quality of life for a growing world population.

BASF is a transnational chemical company that aims to increase and sustain its corporate value through growth and innovation. The company's product range includes high-value chemicals, plastics, colorants and pigments, dispersions, automotive and industrial coatings, agricultural products and fine chemicals as well as crude oil and natural gas. BASF's approach to integration, known in German as "Verbund," is one of its particular strengths, ensuring cost leadership and a unique competitive advantage. With sales in 2000 of about Euro 36 billion (circa USD 34 billion) and a workforce of 103,000 employees, BASF is one of the world's leading chemical companies. BASF acts in accordance with the principles of Sustainable Development. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and New York (BF). The company's Internet address is www.basf.com.

 

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