RESEARCH TRIANGLE PARK, NC--(Marketwire - Jan 29, 2013) -
- Corn to be added as a new crop to the fungal resistance platform
- Nutritionally Enhanced Corn project to be stopped
- Approval process for the potato projects in Europe to be discontinued
BASF Plant Science is continuing to strengthen its focus on plant biotechnology solutions to achieve higher yield in plants. BASF will expand its fungal resistance research platform by adding corn as a target crop. At the same time, research activities in Nutritionally Enhanced Corn will be stopped and the European approval processes for potato products will be discontinued.
Main focus on yield and stress
BASF will continue to focus on the development of crops that deliver higher yields and improved resistance to stress conditions. A key component of these activities in plant biotechnology is an industry leading collaboration with Monsanto for key row crops such as soybeans and corn. Both companies have jointly developed the first genetically modified drought tolerant corn, Genuity® DroughtGard™ Hybrids, which received approval for cultivation in the U.S. at the end of 2011 and was in Monsanto's Ground Breakers(SM) trials in 2012. The full commercialization is expected in 2013/14.
"BASF Plant Science is where innovation yields results. Our 'Trait Technology Partner' strategy has proven to be successful. We continue to expand into fields where we can leverage our understanding of a plant's behavior to achieve more yield through plant biotechnology approaches," said Peter Eckes, President of BASF Plant Science. The company has partnerships with leading agricultural companies such as Monsanto, Bayer CropScience, Cargill, and KWS, Germany.
Expansion of fungal resistance platform into corn
The new research and development activities for fungal resistant corn will be located at BASF Plant Science's global headquarters in Research Triangle Park (RTP), North Carolina. Field testing sites will be located in North Carolina and in the Midwest region of the United States.
"We will expand our fungal resistance platform into corn because of the attractive long-term market potential as well as the fit to our strategy to deliver more yield. Corn production suffers from severe yield losses triggered by fungal diseases, which have not been successfully addressed by conventional breeding approaches. Both modern chemical crop protection and plant biotechnology can offer solutions to secure yields. In our expanded program, we can build upon our top-quality technology platform for fungal resistance in soybeans in Limburgerhof, Germany," said Eckes.
Nutritionally Enhanced Corn and potato projects discontinued
As part of a continuous review of the project portfolio for strategic fit and attainment of project milestones, BASF Plant Science will no longer pursue research and development activities into Nutritionally Enhanced Corn in the United States. The company will also discontinue the pursuit of regulatory approvals for the Fortuna, Amadea, and Modena potato projects in Europe because continued investment cannot be justified due to uncertainty in the regulatory environment and threats of field destructions.
The discontinuation of the Nutritionally Enhanced Corn activities will result in the closure of six BASF field sites in Olivia, Minnesota, Henderson, Nebraska, Weldon and Sycamore, Illinois, Estherville, Iowa, and one of two sites in Ames, Iowa. In total, around 40 positions will be eliminated.
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 73.5 billion in 2011 and had more than 111,000 employees as of the end of the year. 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.
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. 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 or higher content of specific Omega-3's (EPA / DHA) in oil crops for preventing cardiovascular diseases. Further information on BASF Plant Science is available on the Internet at www.basf.com/plantscience.