Die Welt – Germany: BASF warns of research transfer abroad if GMO law amendment goes ahead: “BASF, the German chemicals giant, is hoping to sell off Basell, its joint venture with the Anglo-Dutch oil group Shell, and to complete the transaction in the first half of 2005.” (ShellNews.net)

Sep 03, 2004

BASF, the German chemicals giant, is hoping to sell off Basell, its joint venture with the Anglo-Dutch oil group Shell, and to complete the transaction in the first half of 2005.

Basell manufactures preliminary products for plastics, and is valued at around 6bn euros. Options for the sale include the stock market, an acquisition by a rival company or by an investment group.

The management of BASF is threatening to transfer its genetic technology research activities abroad if the planned amendment to legislation regarding genetically modified plants is introduced in Germany, although a short-term decision regarding a transfer is not planned. The amendment would establish strict liability regulations, a register of sites and growing standards for the cultivation of genetically modified plants in the vicinity of GMO-free crops.

Abstracted from Die Welt