BASF buys CropDesign

22 May 2006 00:00  [Source: ICB Americas]

GERMAN CHEMICALS group BASF has bought Belgian plant biotechnology company CropDesign.

BASF said Ghent-based CropDesign would become part of its plant biotechnology company, BASF Plant Science, and will help boost development of higher-yielding and more drought-tolerant crops. CropDesign’s 70 employees will continue to work at the Ghent research facilities.

CropDesign specializes in traits for yield-enhancement, drought tolerance and improved nutrient use efficiency, of crops such as corn and rice. Traits are important plant characteristics driven by genes and are the basis of the commercial use of plant biotechnology.

BASF said crops with higher yields would become increasingly important to meet the nutritional needs of a growing global population.

“In 15 years we will have close to 8 billion people on our planet, almost 1.5 billion more than today,” said BASF board member Peter Oakley. “With lead times of 12 to 15 years in research we have no time to lose.”

BASF Plant Science and CropDesign signed a broad licence and research agreement last December. BASF said the acquisition now secures its full access to additional traits and to all research and development options of the company covered by this agreement.

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly