BASF India has received an approval to develop and refine yield enhancing traits in rice on behalf of BASF Plant Science Company GmbH, Germany. The board at its meeting held on October 25, 2011 has approved for the same. Further, this approval is subject to the regulatory approvals as may be required.
Earlier, the company had received its board’s approval to purchase the business of Cognis Specialty Chemicals in India along with all its assets and liabilities on a going concern basis with effect from July 01, 2011 for a lump-sum consideration of Rs 13.4 crore, subject to requisite approvals as may be necessary.
BASF India is a leading player in chemical sector and manufactures and markets a wide range of products such as expandable polystyrene, tanning agents, leather chemicals and auxiliaries including specialized metal complex dyes etc. in primary forms and crop protection chemicals.