Germany's BASF said on Friday that it was lowering its full-year outlook, citing weaker-than-expected global economic growth and reduced demand for its chemicals due to U.S. tariffs.
BASF's agriculture unit is aiming to expand in Asia and global seed markets as it prepares for a stock market listing in about two years, a senior executive told Reuters.
German chemicals giant BASF said on Friday it was facing high levels of uncertainty from U.S. tariffs and other countries’ reactions to them, but reaffirmed its earnings guidance for lack of clearer economic indicators.
Commodity group Louis Dreyfus Company (LDC) said on Monday it had signed a binding agreement to buy German chemicals maker BASF's Food and Health Performance Ingredients business as part of its diversification push.
Bayer said on Tuesday that weak agricultural markets mean its earnings are likely to fall further next year, sparking a sharp fall in the German company's shares and piling pressure on its CEO to deliver on his turnaround efforts.
BASF is planning a partial listing of its agricultural business because the stock market is underestimating the unit's earnings prospects within the group, the German chemicals giant's new CEO told staff on Wednesday.
BASF plans to prepare its agricultural chemicals business for an initial public offering in the next few years as part of restructuring measures set to be announced by the chemicals group this month, Bloomberg News reported on Wednesday.
A U.S. judge has dismissed a lawsuit accusing agriculture giants Bayer, Corteva, Syngenta and others of conspiring with wholesalers and retail outlets to fix prices for seeds and crop protection chemicals, causing farmers to pay higher prices
BASF plans to shut down two sites in Germany that are part of its production network for the glufosinate-ammonium weed killer, the German chemicals group said on Wednesday.