BASF

Germany's BASF agrees oil merger with Russian tycoon's firm

Frankfurt am Main - Muslimchronicle

German chemicals giant BASF has agreed to merge its Wintershall oil and gas unit with the DEA energy firm owned by Russia's billionaire entrepreneur Mikhail Fridman. The multi-billion-euro deal will create "one of the largest independent European exploration and production companies" with "significant growth potential" and scope for synergies, BASF said in a statement late Thursday. BASF said it wouldRead more

Germany's BASF reports surging profits in third quarter

Frankfurt - Muslimchronicle

German chemicals giant BASF beat expectations Tuesday with a leap in profit between July and September, as strong performance at its core chemicals division powered much of the increase. Net profit at the Ludwigshafen-based group increased by 50 percent compared with the same period in 2016, to 1.34 billion euros ($1.58 billion). The result beat predictions from analysts surveyed byRead more

Bayer sells crop science units to ease Monsanto takeover

London - Muslimchronicle

Germany's Bayer said Friday it would sell parts of its agrichemical business to rival BASF, kick-starting a competitor in the seeds market even as it clears the way for its mammoth takeover of US-based Monsanto. The $66 billion Bayer-Monsanto tie-up would create a world-spanning giant in seeds and pesticides, and the two firms have been mulling concessions to satisfy competitionRead more

German firefighter dies 11 months after BASF explosion

Frankfurt am Main - AFP

An October 2016 explosion at the main plant of German chemical giant BASF has claimed its fifth victim, nearly a year after the accident, the group said Tuesday. The firefighter died overnight between Monday and Tuesday of injuries sustained that day, BASF said in a statement. "I am deeply affected by the loss of our colleague," BASF president and chiefRead more

BASF sees lower-than-expected third quarter fall in profits

Frankfurt - AFP

German chemicals giant BASF said Thursday its profits had fallen sharply in the third quarter, driven by divestitures in its oil and gas business. The Ludwigshafen-based firm said it made 888 million euros ($969 million) net profit, down 27 percent but exceeding the expectations of analysts surveyed by Factset who had predicted a steeper fall to 795 million. Sales fellRead more

Monsanto revives talks with BASF as alternative to Bayer

Berlin - AFP

US seeds and pesticides maker Monsanto is in talks with German chemicals giant BASF over a possible merger of their two agrochemicals divisions, Bloomberg News reported on Thursday quoting anonymous sources. Acquiring BASF's agriculture solutions unit is just one of several transactions Monsanto is exploring as an alternative to a takeover offer from German chemicals and pharmaceuticals group Bayer. "DiscussionsRead more

BASF to buy Albemarle's Chemetall coatings division for $3.2bn

Frankfurt - AFP

German chemicals giant BASF said Friday it has agreed to purchase Chemetall, the surface treatment subsidiary of US group Albemarle, for $3.2 billion (2.8 billion euros). BASF added in its statement that "the transaction is subject to approval by the relevant authorities and is expected to close by the end of 2016." Chemetall is headquartered in Frankfurt and has aRead more