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BASF, Lantmännen, Svalöf Weibull swap shares
Posted: Wednesday, October 29, 2008 11:40 am
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BASF, Lantmännen, and Svalöf Weibull have exchanged shares of company stock. As a result, BASF has gained full ownership of BASF Plant Science by acquiring the 15 percent share in BASF Plant Science previously held by Svalöf Weibull. At the same time, Lantmännen became the sole owner of Svalöf Weibull after acquiring the 40 percent share in Svalöf Weibull previously held by BASF Plant Science. According to a joint press release, the resulting simplification in ownership will give the companies greater flexibility in responding to their respective strategic demands.

Lantmännen is one of the largest groups in the food, energy and agriculture industries in the Nordic region. Lantmännen's brands include Axa, Kungsörnen, Start, Bageri Skogaholm, Hattings, Schulstad and Kronfågel. Lantmännen is owned by 42,000 Swedish farmers. It has 13,000 employees, operates in 19 countries and has a turnover of SEK 36 billion.

Svalöf Weibull is an international plant breeding and seed company. The core business is development and marketing of new plant varieties and the production of seed. Cereals, oil seeds and forage grasses & legumes are the main crops. Svalöf Weibull, better known as SW Seed in the international market, is located in Svalöv, Sweden and has 220 employees in Sweden, Germany, Holland, Poland and Latvia.

BASF is the world's leading chemical company. It has more than 95,000 employees around the world, and posted sales of almost €58 billion in 2007. The company consolidated its plant biotechnology activities in BASF Plant Science in 1998, and the division currently employs about 700.

"Markets and strategic focus have changed since BASF and Svalöf Weibull started their cooperation 10 years ago," explained Monika Lekander, CEO of Svalöf Weibull. "It is therefore logical for the partners to now end their joint ventures. An independent Svalöf Weibull can look for new development opportunities and cooperation partners, whilst we can count on the continuation of our excellent cooperation with BASF Plant Science for certain projects." Svalöf Weibull will continue to provide field trial services for BASF Plant Science in Sweden and will allow BASF to access selected commercial seed varieties for research and commercialization purposes.

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