Abstract
BASF has taken another significant step to boost its agricultural products portfolio. Two weeks ago, BASF committed $700 million to ag biotech R&D over the next 10 years. Last week, the company said it would spend five times as much, or $3.8 billion, to boost its traditional crop protection business through the purchase of American Home Products' (AHP) American Cyanamid unit. The purchase, expected to close July 1 following regulatory approvals, will engender a business with $3.6 billion in annual sales of herbicides, fungicides, and insecticides, almost doubling the size of BASFs annual crop protection sales of $1.9 billion. It will make BASF the fourth largest crop protection company worldwide after number-one Syngenta—the proposed combination of Novartis' and AstraZeneca's crop protection portfolios—Monsanto, and Aventis. We plan to take a leading role in the new agro-market through this acquisition and through our planned R&D investments in plant biotechnology, says Eggert Voscherau ...
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