NewswireToday - /newswire/ -
Limburgerhof, Germany, 2012/09/25 - BASF is making an investment of more than €200 million to scale up and further integrate production and formulation capacities in order to meet continued demand for several key fungicides, including F 500 and Xemium - BASF.com. DE000BASF111
• Strong demand for F 500® and Xemium®;
• Investment of more than €200 million to enhance capacities and flexibility.
The investment drives significant expansions at facilities in Schwarzheide and Ludwigshafen, Germany, as well as Sparks, Georgia, USA. These measures will increase production capacity, flexibility and efficiency. It is one of the division’s largest capital investments in recent years.
“We continue to expect strong market demand for our portfolio of innovative products in the future. That is why we increased the estimated peak sales potential of our pipeline to €2.8 billion earlier this year,” said Markus Heldt, President of BASF’s Crop Protection division. “These investments will help to increase our operating efficiency and flexibility, so that we can continue to contribute to sustainable agriculture through our innovative solutions for farmers around the world.”
F 500 is BASF’s top fungicide and forms the backbone of the successful fungicide portfolio, including the AgCelence brand which delivers products that improve plant health and help crops better manage stress and resources. The estimated peak sales potential for F 500 was raised to more than €1 billion earlier this year.
Xemium is BASF’s next generation fungicide and, since its initial launch in late 2011, has quickly established itself as a winning product with blockbuster potential. It is being sold in combination with F 500 and azoles for controlling a broad spectrum of critical plant diseases. BASF aims for a peak sales potential of more than €200 million with Xemium, based on planned global launch plans in more than 50 countries for over 100 crops.
About BASF’s Crop Protection division
With sales of around €4.2 billion in 2011, BASF’s Crop Protection division is a leader in crop protection and a strong partner to the farming industry providing well-established and innovative fungicides, insecticides and herbicides. Farmers use these products and services to improve crop yields and crop quality. Other uses include public health, structural/urban pest control, turf and ornamental plants, vegetation management, and forestry. BASF aims to turn knowledge rapidly into market success. The vision of BASF’s Crop Protection division is to be the world’s leading innovator, optimizing agricultural production, improving nutrition, and thus enhancing the quality of life for a growing world population. Further information can be found on the web at agro.basf.com/.
BASF (basf.com) 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 €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).