Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Germany
  4. Xetra
  5. BASF SE
  6. News
  7. Summary
    BAS   DE000BASF111

BASF SE

(BAS)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 08/03 11:03:06 am
66.545 EUR   +0.70%
02:06aWestern Australia takes step-up in battery chemicals production
RE
08/02BASF SE : Jefferies reiterates its Buy rating
MD
08/02BASF SE : Barclays sticks Neutral
MD
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

BASF : First vegetable seeds grown in BASF's new state-of-the-art production facility in Ethiopia enter the global market

06/17/2021 | 05:06am EDT
  • Customers worldwide to benefit from year-round seed production
  • Around €8 million investment
  • Numerous social responsibility initiatives to benefit the local community

Nunhem, The Netherlands - The first seeds produced at BASF's new
state-of-the-art production facility in Ethiopia enter the global vegetable seed market. Located in the country's Amhara region, the facility offers ideal year-round production conditions for sweet pepper, tomato and cucumber. It is BASF's first high-tech greenhouse complex in Africa.

'We invested around €8 million into this new facility. It will provide us with extra supply reliability and flexibility to serve our customers worldwide,' said Vicente Navarro, Senior Vice President of BASF's vegetable seeds business. 'Sustainable food production is very important to us and we want to do our part. That is why we are very proud of this new facility: It makes us a frontrunner in terms of establishing the first sustainable high-tech seed production site in Ethiopia with fully automated processes for climate control including humidity, heating and irrigation.'

The premises cover a surface of 15 hectares: two hectares are occupied by
state-of the-art greenhouses while the rest is used for open field seed production facilities and infrastructure. Currently, around 70 permanent employees are working at the new site. In addition, BASF also provides employment to more than 100 seasonal workers. Most of the employees were recruited from the surrounding areas and trained in-house.

High sustainability standards and commitment to social responsibility

The site fulfills BASF health, safety and environmental standards and goes beyond Ethiopia's common sustainability requirements. To reduce its carbon footprint, mainly renewable energy sources are used to generate electricity. The greenhouses are heated with solar panels. Furthermore, the facility has its own wastewater treatment plant and all the waste it produces can be recycled on site.

In addition, BASF is engaged in numerous social responsibility initiatives in the vicinity of the site. 'I am very proud to see that apart from delivering seeds to Ethiopian smallholder farmers, we are also actively involved in projects for reforestation and soil erosion control in the area,' stressed Ben Depraetere, Managing Director Nunhems Ethiopia PLC and Country Head of BASF's vegetable seeds business in Ethiopia. 'We want the local community to benefit. That is why, for example, we also supply the community around our site with safe drinking water, have invested in building new road infrastructure and established a fund to create job projects for unemployed young people from the surrounding area.'

About BASF's Agricultural Solutions division
With a rapidly growing population, the world is increasingly dependent on our ability to develop and maintain sustainable agriculture and healthy environments. Working with farmers, agricultural professionals, pest management experts and others, it is our role to help make this possible. That's why we invest in a strong R&D pipeline and broad portfolio, including seeds and traits, chemical and biological crop protection, soil management, plant health, pest control and digital farming. With expert teams in the lab, field, office and in production, we connect innovative thinking and down-to-earth action to create real world ideas that work - for farmers, society and the planet. In 2020, our division generated sales of €7.7 billion. For more information, please visit www.agriculture.basf.com or any of our social media channels.

About BASF

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 110,000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2020. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com.

P-21-234

Disclaimer

BASF SE published this content on 17 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 June 2021 09:05:04 UTC.


ę Publicnow 2021
All news about BASF SE
02:06aWestern Australia takes step-up in battery chemicals production
RE
08/02BASF SE : Jefferies reiterates its Buy rating
MD
08/02BASF SE : Barclays sticks Neutral
MD
08/02BASF : Irgastab« enables LOTTE Chemical to deliver high-clarity medical polyprop..
PU
07/30BASF SE : Baader Bank reaffirms its Buy rating
MD
07/29BASF SE : DZ Bank reiterates its Buy rating
MD
07/29Eni, BASF Launch Biofuel R&D Initiative
DJ
07/29BASF : Eni and BASF launch joint R&D initiative to reduce the CO2 footprint of t..
PU
07/29BASF SE : Deutsche Bank remains its Buy rating
MD
07/29BASF SE : Berenberg sticks Neutral
MD
More news
Financials
Sales 2021 74 179 M 88 171 M 88 171 M
Net income 2021 5 289 M 6 287 M 6 287 M
Net Debt 2021 14 662 M 17 428 M 17 428 M
P/E ratio 2021 11,1x
Yield 2021 5,17%
Capitalization 60 693 M 72 133 M 72 141 M
EV / Sales 2021 1,02x
EV / Sales 2022 1,03x
Nbr of Employees 107 646
Free-Float 100%
Chart BASF SE
Duration : Period :
BASF SE Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BASF SE
Short TermMid-TermLong Term
TrendsNeutralBearishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 66,08 €
Average target price 80,36 €
Spread / Average Target 21,6%
EPS Revisions
Managers and Directors
Martin BrudermŘller Chairman-Executive Board
Hans-Ulrich Engel Chief Financial & Digital Officer
Kurt Wilhelm Bock Chairman-Supervisory Board
Melanie Maas-Brunner Chief Technology Officer
Anke Schńferkordt Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
BASF SE2.10%72 133
SHIN-ETSU CHEMICAL CO., LTD.1.47%69 646
DUPONT DE NEMOURS, INC.4.98%39 724
ROYAL DSM N.V.21.13%34 618
EVONIK INDUSTRIES AG10.79%16 371
ASAHI KASEI CORPORATION16.12%15 556