BASFY.PK: BASF Instablogs

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Thursday, May 23, 8:11 AM BASF (BASFY.PK) and Monsanto (MON) plan to commercially launch a drought-tolerant variety of genetically modified corn in the U.S. next year, a senior BASF official says. The two companies have a revenue sharing arrangement, with 60% of revenue going to MON and the rest to BASF. Comment! [Commodities, Consumer]
Monday, April 8, 5:29 PM Royal Dutch Shell (RDS.A, RDS.B) and Germany's BASF (BASFY.PK) agree to pay 370M Brazilian reais ($187M) to settle a lawsuit over suspected contamination at a now-shuttered pesticide plant in Brazil. The settlement comes as the head of Shell's local unit said recently the company is interested in auctions of oil and gas exploration licenses this year. Comment! [Energy, Global & FX]
Tuesday, March 12, 2:53 PM Royal Dutch Shell (RDS.A, RDS.B) and BASF (BASFY.PK) agree to pay up to $316M to workers exposed to toxic chemicals in Brazil, ending a six-year legal battle. A pesticide factory in São Paulo state operated by the companies for 30 years until it was shut down in 2002 has been blamed for various deaths and health problems in the local community. 2 Comments [Energy, Global & FX]
Wednesday, January 2, 3:56 PM Amarin Corporation (AMRN +0.5%) says it's submitted a Supplemental New Drug Application to the FDA seeking approval for BASF (BASFY.PK) as an additional Vascepa active pharmaceutical ingredient supplier. Comment! [Healthcare]
Thursday, November 15, 2012, 9:19 AM European energy companies with minority stakes in Russia's Gazprom-led South Stream natural gas pipeline can exit the project if certain conditions aren't "satisfied in the future," according to the company managing the construction of the underwater part of the project. Minority partners include Eni (E), BASF and Electricite de France. Comment! [Energy, Global & FX]
Wednesday, November 14, 2012, 8:08 AM BASF (BASFY.PK) agrees with Gazprom (OGZPY.PK) on an asset swap that will see BASF exiting gas trading and storage activities which had €8.6B ($10.9B) in sales last year. Gazprom gains full ownership of trading ventures held with BASF’s Wintershall unit and storage in Germany and Austria, helping it meet peak demand in Europe, while BASF gains stakes in Siberian projects. Comment! [Energy, Global & FX]
Monday, October 22, 2012, 8:58 AM BASF (BASFY.PK) will expand its production and reserves of oil and gas in the North Sea through an asset swap with Statoil (STO), which also will receive at least $1.35B. BASF unit Wintershall gets shares in three producing fields containing reserves of ~100M boe, including a 32.7% stake in the Brage field. Comment! [Energy, Global & FX]
Thursday, September 20, 2012, 8:47 AM BASF (BASFY.PK), the world's largest chemicals company, agrees to acquire U.S. crop protection firm Becker Underwood from Norwest Equity Partners for $1.02B in a deal that will boost BASF's farming pesticides division. Becker Underwood provides seed treatments, biological crop protection, gardening products and animal nutrition. (PR) Comment! [M&A]
Thursday, August 23, 2012, 8:36 AM Waste Management (WM) signs a joint development agreement with a startup called Renmatix to study the feasibility of converting everyday garbage into sugars that can then be used to make plastics and fuels. Waste Management also joins BASF and Kleiner Perkins in investing in Renmatix. 3 Comments
Tuesday, July 31, 2012, 8:43 AM Sinopec (SNP) and chemical giant BASF (BASFY.PK) sign a preliminary agreement to build a "world-scale" iso-nonanol plant in China's Guangdong province. Iso-nonanol is primarily used in plastics manufacturing and ends up in products such as wires, cables and flooring, and in the automotive, building and construction sectors. China currently relies exclusively on imports of the product. Comment! [Commodities]
Monday, June 27, 2011, 1:39 PM Akzo Nobel (AKZOY.PK -5.6%) sinks after cutting its outlook for the remainder of 2011, citing margin impact from rising raw material and heavy maintenance costs, plus weak demand in its major markets. Comment! [Global & FX, Commodities]
Tuesday, April 12, 2011, 2:55 PM Monsanto (MON +2.5%) shares pull back after a Reuters report suggests BASF (BASFY.PK) is not planning a bid for the company; buyout rumors had sent the stock up as much as 4%. Deutsche Bank had upgraded the shares yesterday on valuation and faith that "its strategy will drive share gains and mid-teens EPS growth over the next three years." Comment! [M&A, On the Move]
Thursday, March 31, 2011, 3:22 PM U.K. Chancellor of the Exchequer Osborne will meet with the executives of several oil producers who are reconsidering investments in the North Sea in light of the proposed tax hike on crude. They are to "investigate whether the negative impacts of the tax increase can be mitigated." Comment! [Global & FX]
Monday, March 21, 2011, 8:51 AM Western oil companies privately fear losing their operations in Libya as payback for air strikes should Gaddafi prevail. The head of Libya's NOC says firms that have repatriated staff due to the crisis should get back to work or risk losing future contracts to rivals from China, Brazil, and India. 4 Comments [Global & FX]
Thursday, February 24, 2011, 8:43 AM "There is a lot of speculation in it, fear priced in," says BASF (BASFY.PK) CEO Juergen Hambrecht, who believes oil prices are ready to calm down. BASF, flat in German trading after releasing earnings, has suspended its Libyan operations. Comment! [Global & FX]
Friday, December 24, 2010, 11:20 AM GE's silence regarding the WTO case against China for illegal subsidies to wind turbine makers points to the reluctance of multinationals to pipe up when China flouts international trade laws. Concerns about China's behavior voiced by a handful of companies earlier this year are the exception, not the rule. 5 Comments [Global & FX]

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