BASF to invest USD 33 million in R&D facilities in Research Triangle Park, North Carolina
LUDWIGSHAFEN, GERMANY and RESEARCH TRIANGLE PARK, NORTH CAROLINA, February 15, 2012 – BASF today announced a USD 33 million investment to expand its facilities in Research Triangle Park (RTP), North Carolina. Nearly 80,000 sq. ft. of office, laboratory and greenhouse facilities will support the company’s plant biotechnology and insect control research. This is the first in a series of investments that the Agricultural Solutions segment will make in 2012 to strengthen its global R&D platforms in line with BASF’s new “We create chemistry” strategy.
“This expansion demonstrates the company’s strategic commitment to agricultural solutions and strengthening R&D in all of our markets,” said Nevin McDougall, Senior Vice President, BASF Crop Protection North America. “It also underscores our commitment to the site’s employees and the surrounding community.”
BASF expects to break ground on the project in March, and construction is expected to be completed by mid-2013. The planned expansion includes a climate-controlled greenhouse and laboratories for plant biotechnology research, a custom environmentally-controlled insect production facility and office space.
A significant share of insecticide research is already conducted in Research Triangle Park. The larger, modernized facilities will ensure comprehensive and faster evaluation of the company’s promising insecticide candidates, thus expanding its development capabilities.
”BASF Plant Science has been located in RTP since 1998. With this significant addition to our existing facilities, we are strengthening our research platform at this strategic site,” said Juergen Schweden, Senior Vice President, Research & Development, BASF Plant Science. The investment follows the announcement in January to establish BASF Plant Science’s global headquarters at RTP which is in line with the division’s focus on its main markets in North and South America.
This site currently employs approximately 780 people and occupies 400,000 square feet. RTP is a major BASF location for global insecticide and plant biotechnology research. It serves as headquarters for the North American activities of BASF’s Crop Protection division and soon the global headquarters for the Plant Science division. BASF established its RTP site in 1986. The last major investment in the site took place in 2006.
About BASF Plant Science
BASF Plant Science – a BASF group company – is one of the world’s leading companies providing innovative plant biotechnology solutions for agriculture. Today, about 840 employees are helping farmers meet the growing demand for improved agricultural productivity and healthier nutrition for humans and animals. BASF Plant Science has developed an unparalleled gene discovery platform focusing on yield and quality traits in crops such as corn, soybean and rice. Jointly with leading partners in the seed industry BASF Plant Science is commercializing its products. Current projects include higher yielding row crops, nutritionally-enhanced corn for animal feed or higher content of Omega-3’s in oil crops for preventing cardiovascular diseases. To find out more about BASF Plant Science, please visit www.basf.com/plantscience
About the BASF Crop Protection division
With sales of EUR 4.0 billion in 2010, BASF’s Crop Protection division is a leader in crop protection and a strong partner to the farming industry providing well-established and innovative fungicides, insecticides and herbicides. Farmers use these products and services to improve crop yields and crop quality. Other uses include public health, structural/urban pest control, turf and ornamental plants, vegetation management, and forestry. BASF aims to turn knowledge rapidly into market success. The vision of BASF’s Crop Protection division 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. Further information can be found on the web at www.agro.basf.com or follow us on twitter: www.twitter.com/basfagro.
BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success, social responsibility and environmental protection. Through science and innovation we enable our customers in almost all industries to meet the current and future needs of society. Our products and system solutions contribute to conserving resources, ensuring healthy food and nutrition and helping to improve the quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of about EUR 63.9 billion in 2010 and had approximately 109,000 employees as of the end of 2010. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com or in the Social Media Newsroom at newsroom.basf.com.
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