Basta herbicide from BASF to be manufactured and marketed by NongHyup and Sungbo Chemical in Korea
- Both firms will manufacture and market BASF’s leading non-selective herbicide under a new distribution and licensing agreement
- Companies deliver the same high-quality formulation – with first production and sales beginning in late December 2018
January 2, 2019 – Seoul, South Korea – BASF entered into two exclusive distribution and trademark licensing agreements with NongHyup Chemical Co., Ltd. and Sungbo Chemicals Co., Ltd. The two companies will formulate and market BASF’s non-selective herbicide, Basta, to farmers in Korea.
Under the agreements, BASF will supply high-quality active ingredient from its production plant in Germany to both companies for local formulation of the final product under exact specifications – to be marketed under the Basta brand. The first production and sales commenced in late December 2018.
At the final agreement signing between the companies, Mr. Jin-Woo Lee, Business Area Manager for BASF Agricultural Solutions in Korea commented “We know that many farmers in Korea rely on Basta. With this agreement, we are pleased that we can work with two leading companies and long-time business partners to deliver the same high-quality product that growers have known and trusted for decades.”
Basta, previously sold by Bayer Crop Science, is a leading brand of non-selective herbicide in many countries around the world, including Korea. BASF acquired Basta as part of its acquisition of selected businesses and assets from Bayer Crop Science, which was finalized in August 2018.
About BASF’s Agricultural Solutions division
With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. Working with farmers, agricultural professionals, pest management experts and others, it is our role to help make this possible. That’s why we invest in a strong R&D pipeline and broad portfolio, including seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. With expert teams in the lab, field, office and in production, we connect innovative thinking and down-to-earth action to create real world ideas that work – for farmers, society and the planet. In 2017, our division generated sales of €5.7 billion. For more information, please visit www.agriculture.basf.com or any of our social media channels.
About BASF in Korea
BASF has been a committed partner to Korea since 1954. As a leading foreign investor in the Korean chemical industry, BASF operates eight world-scale production sites in Korea. BASF has also established an Electronic Materials R&D Center Asia Pacific in Suwon, as well as four Technology Centers in Dongtan, Siheung and Ansan. BASF recorded sales to customers in Korea of approximately €1.2 billion in 2017, and has 1,154 employees in Korea as of December 31, 2017. Further information at www.basf.com/kr.
About BASF
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of more than €60 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.
