BASF has announced that it is concentrating its plant biotechnology activities on the main markets in North and South America.
The company will adjust the portfolio and site footprint of its subsidiary BASF Plant Science to reflect this change.
The headquarters of BASF Plant Science will be moved from Limburgerhof, Germany, to Raleigh, North Carolina.
Research and development activities will be concentrated mainly in Raleigh, Ghent, Belgium and Berlin, Germany.
Development and commercialization of all products targeted solely at cultivation in the European market will be halted.
Regulatory approval processes which have already started will be continued.
"We are convinced that plant biotechnology is a key technology for the 21st century. However, there is still a lack of acceptance for this technology in many parts of Europe - from the majority of consumers, farmers and politicians. Therefore, it does not make business sense to continue investing in products exclusively for cultivation in this market," said Dr. Stefan Marcinowski, member of the Board of Executive Directors of BASF, responsible for plant biotechnology.
"We will therefore concentrate on the attractive markets for plant biotechnology in North and South America and the growth markets in Asia."