BASF to invest $33m in R&D facilities in North Carolina

15 February 2012 12:57  [Source: ICIS news]

LONDON (ICIS)--BASF will invest $33m (€43m) to expand its facilities in Research Triangle Park, North Carolina, the US, the Germany-based chemicals major said on Wednesday.

The planned expansion includes a climate-controlled greenhouse and laboratories for plant biotechnology research, an environmentally controlled insect production facility and office space.

BASF expects to break ground on the project in March and construction is expected to be complete by mid-2013.

The company said this is the first in a series of investments that its Agricultural Solutions segment will make in 2012 to strengthen its global research and development (R&D) platforms.

“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.

“With this significant addition to our existing facilities, we are strengthening our research platform at this strategic site,” said Jurgen Schweden, senior vice president of R&D at BASF Plant Science.

The investment follows a company announcement in January to establish BASF Plant Science’s global headquarters in North Carolina, which is in line with the division’s strategy to focus on its North and South American markets.

($1 = €0.76)

By: Franco Capaldo
+44 (0)20 8652 3214

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