Jan 31, 2012BASF moving subsidiary & stopping GM development
In an effort to concentrate its plant biotechnology activities on the main markets in North and South America, BASF is moving its BASF Plant Science headquarters from Limburgerhof, Germany, to Raleigh, N.C.
Research and development activities will be concentrated in Raleigh, Ghent, Belgium and Berlin, Germany.
Development and commercialization of all products targeted solely at cultivation in the European market will be halted. This includes the genetically modified starch potatoes Amflora, Amadea and Modena, as well as Fortuna, a potato resistant to late blight. BASF will continue the regulatory approval processes for products already started.
“We are convinced that plant biotechnology is a key technology for the 21st century,” said Stefan Marcinowski, a member of BASF’s board of executive directors. “However, there is still a lack of acceptance for this technology in many parts of Europe – from the majority of consumers, farmers and politicians. Therefore, it does not make business sense to continue investing in products exclusively for cultivation in this market. We will therefore concentrate on the attractive markets for plant biotechnology in North and South America and the growth markets in Asia.”
