BASF completes acquisition of Becker Underwood


    --  New global business unit Functional Crop Care established
    --  Integration plans will be developed jointly
    --  Biological seed treatment solutions complement BASF's crop
        protection portfolio

LUDWIGSHAFEN, Germany, Nov. 28, 2012 /CNW/ - BASF has completed the 
acquisition of Becker Underwood from Norwest Equity Partners, a U.S.-based 
private equity investment company, for a purchase price of US$1.02 billion 
(€785 million). With the acquisition, BASF is now a leading global provider 
of technologies for biological seed treatment as well as seed treatment 
colorants and polymers. BASF has also expanded its product portfolio in the 
areas of biological crop protection, turf and horticulture, animal nutrition 
and landscape colorants and coatings.

"The acquisition fits very well with our long-term growth strategy. It will 
provide our customers with an even broader range of innovative solutions for 
agriculture. And it also provides our new colleagues with access to BASF's 
global R&D platform as well as new markets and customers," said Dr.Andreas 
Kreimeyer member of BASF's Board of Executive Directors responsible for the 
Agricultural Solutions segment and Research Executive Director.

In the coming months, a detailed integration plan will be developed by a joint 
team of BASF and Becker Underwood employees. Most businesses of Becker 
Underwood will join the newly established global business unit Functional Crop 
Care as part of BASF's Crop Protection division. Within this new unit, BASF 
will merge its existing research, development and marketing activities in the 
areas of seed treatment, biological crop protection, plant health, as well as 
water and resource management with those of Becker Underwood. Becker 
Underwood's animal nutrition business will be integrated into BASF's Nutrition 
& Health division.

The newly formed global Functional Crop Care unit will become effective 
January 1, 2013. It will be headed by Dr. Jürgen Huff, Senior Vice President.

Dr. Peter Innes, currently CEO of Becker Underwood, has accepted the position 
of Global Senior Advisor to the Crop Protection division. He will support the 
integration of Becker Underwood into BASF and the implementation of the 
Functional Crop Care unit.

"Now we are focused on an integration which is as seamless as possible for our 
customers and our employees," said Markus Heldt, President of BASF's Crop 
Protection division. "Becker Underwood will be a cornerstone of our Functional 
Crop Care unit and we are looking forward to further developing our business 
together with our new colleagues."

In 2011, BASF's Crop Protection division reported sales of around 
€4.2billion and is expecting another record year in 2012. With its 
products and services, BASF helps growers to improve their yields and the 
quality of their products.

About BASF

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 
€73.5billion 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.

Corporate Media Relations: Gert Loedden Phone: +49 621 60-20829 Fax: +49 621 
60-92693 gert.loedden@basf.com

Trade Press: Katharina Fischer Phone: +49 621 60-27034 Fax: +49 621 60 
6627034 katharina.fischer@basf.com

In North America: Anne Burt Phone: 1-919-547-2757 Mobile: 1-919-523-7415 
anne.burt@basf.com  In Canada Scott Kay Phone: 1-289-360-6021 Mobile: 
1-905-601-8825 scott.kay@basf.com

SOURCE: BASF Canada Inc.

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CO: BASF Canada Inc.
ST: Ontario
NI: AGR MNA 

-0- Nov/28/2012 13:15 GMT


 
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