BASFY - BASF SE
| Previous Close | 17.58 |
| Open | 17.62 |
| Bid | 0.00 x 0 |
| Ask | 0.00 x 0 |
| Day's Range | 17.45 - 17.63 |
| 52 Week Range | 15.50 - 20.98 |
| Volume | 636,977 |
| Avg. Volume | 206,303 |
| Market Cap | 64.002B |
| Beta (5Y Monthly) | 1.25 |
| PE Ratio (TTM) | 9.36 |
| EPS (TTM) | 1.87 |
| Earnings Date | N/A |
| Forward Dividend & Yield | 0.90 (5.13%) |
| Ex-Dividend Date | May 05, 2019 |
| 1y Target Est | 15.00 |
- Moody's
Solenis Holdings LLC -- Moody's downgrades Solenis' first lien debt to B3, affirms B3 corporate family rating
Moody's Investors Service ("Moody's") has downgraded Solenis Holdings LLC's ("Solenis") first lien revolving credit facility and term loan ratings to B3 from B2. At the same time, Moody's has affirmed Solenis' B3 Corporate Family Rating ("CFR") and B3-PD probability of default rating, as well as the Caa1 rating on its second lien term loan.
- Moody's
DIC Corporation -- Moody's announces completion of a periodic review of ratings of DIC Corporation
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of DIC Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- Reuters
Lone Star to buy BASF construction chemicals unit for $3.51 billion
The deal, which has immediate effect upon BASF's reporting, is expected to close in the third quarter of 2020, according to the statement. Reuters reported last month that Lone Star was in negotiations to buy the BASF unit.
- Moody's
Gaia Agro Securitizadora S.A. - 1ª, 2ª e 3ª Séries da 26ª Emissão de CRA -- Moody's assigns definitive ratings of Baa3 (sf) / Aaa.br (sf) to the first series of the 26th issuance of Gaia Agro Securitizadora S.A.'s agribusiness certificates, a Brazilian trade receivables securitization
The CRAs are backed by trade receivables originated by BASF S.A. (BASF Brazil, not rated), subsidiary of BASF (SE) (BASF, long term rating A2, global scale, outlook stable), related to the sale of defensives for crop protection to agricultural producers, distributors and cooperatives.
- Bloomberg
‘Post-Chemical World’ Takes Shape as Agribusiness Goes Green
(Bloomberg) -- Agribusiness is increasingly turning to natural and sustainable alternatives to chemicals as consumers rebuff genetically modified foods and concerns grow over Big Ag’s role in climate change.At the heart of the trend are innovations that harness beneficial microorganisms in the soil, including seed-coatings of naturally occurring bacteria and fungi that can do the same work as traditional chemicals, from warding off pests to helping plants flourish, according to a global patent study by research firm GreyB Services.“Both entrepreneurs and investors are saying, ‘Hey, the writing is on the wall, we’re entering a post-chemical world,’” said Rob LeClerc, chief executive officer of AgFunder, an online venture-capital platform. “The seed companies who have billions in market cap are like ‘We need to do something,’ and everyone recognizes the opportunity.”Much of the handwringing over farm chemicals stems from the recent fate of glyphosate, the most ubiquitous weedkiller ever. Regulators around the world are tightening up rules around using the chemical, including Europe and Mexico. Meanwhile, thousands of lawsuits that could result in billions of dollars in penalties are pending against Bayer AG over whether its glyphosate-containing product, Roundup, caused cancer. Bayer insists it’s safe, and some government agencies such as the U.S. Environmental Protection Agency say it isn’t likely to cause cancer in humans.The global fertilizer and pesticide market is around $240 billion, and grows 2% to 3% a year, according to Ben Belldegrun, a managing partner at Pontifax AgTech, a company that invests in food and agriculture technology. While so-called biologicals including biofertilizers, biopesticides and biostimulants are just 2% of that market, those have been growing closer to 15% a year for the past five years, Belldegrun said.Pressure for less chemical-intensive farming methods is coming from retailers like Walmart Inc., non-governmental organizations and consumers, who are throwing more dollars toward organic and other niche foods with environmental or animal welfare claims.As population increases worldwide, the demand for agricultural products is projected to grow 15% over the next decade with no change in the amount of land available for farming, according to a joint report by the Organization for Economic Cooperation and Development and the United Nations’ Food and Agriculture Organization.“There’s a growing world population and how are we going to feed all of these people?” asked Craig Forney, assistant director for licensing and business development at Iowa State University in Ames, Iowa. “At the same time, we want to protect the environment. We need to use land better and use the resources better.”The answer, Forney said, is “intensified agricultural production to increase productivity of land and do it with minimal chemical support.”Patents give owners the exclusive right to an invention, and can indicate both where research funding is being spent and where companies or universities expect to generate revenue in the future.Companies like BASF SE, Bayer and Syngenta AG have patents on products using naturally-occurring microbes to help crops flourish even when there is low water availability, according to GreyB’s analysis. The microbes can act as catalysts to encourage growth. Biological-based fungicides and insecticides can also help reduce crop damage from insects, slugs and fungi.“Seed-applied biological products can extend the window of disease and pest protection, while some also provide alternate modes of action that can reduce the build-up of resistance, aid with nutrient management and reduce plant stress,” said Chris Judd, BASF’s global strategic marketing manager for Seed Treatment, Inoculants and Biologicals.Evonik Industries AG, Altair Nanotechnologies Inc., Covestro AG and startup Indigo AG have been active in obtaining patents and publishing research in the area of using microbes, as have universities like China’s Zhejiang University and Nanjing Agricultural University, according to GreyB.Likewise, thousands of patents are being issued to companies like BASF, Bayer and Dow Inc. for more natural ways of managing pests including pheromones that deter breeding and reflective mulches, instead of chemical-based insecticides.Germany’s Bayer, which bought agriculture chemical giant Monsanto Co. in 2018, sees “high growth potential” for biologicals, citing a challenging regulatory environment for chemicals and a growing emphasis on sustainability in agriculture. Bayer has a research and development team solely focused on them. The company also is hunting for partnerships to boost its portfolio. Benoit Hartmann, head of biologics at Bayer, said the increased investments show how the science around microbes has matured in recent years.In 2013, BASF acquired seed-treatment supplier Becker Underwood, which helped the company become a leader in biological agents to fight bacteria and fungi. Judd said the company sees demand for biologicals increasing but maintains that they need “to be compatible with an increasing array of chemistries and to have the ability to survive on the seed for adequate periods.”The increased patenting reflects a trend of researchers looking for ways to help promote organic and non-GMO farming, said Nicole Kling, a patent agent with Nixon Peabody who specializes in the biotechnology field.With biologicals, “You’re not introducing chemicals with the scare quotes around it,” Kling said. “You’re not doing anything that would harm the agricultural workers.”Researchers and companies are looking for new solutions for farming with less chemicals because organic farming, the most popular alternative to modern conventional farming, often results in lower yields. Still, demand for food continues increasing. Iowa State and other universities around the world, using government funding or in partnership with companies, are rushing to deal with those competing demands.“The hope is someday in the future they will merge and you will have organic and non-GMO products that are just as productive as Big Ag,” Forney said.That’s where things like precision agriculture to tailor the application of nutrients, artificial intelligence to monitor soil conditions and the development of new plant hybrids come in.Other emerging techniques that could boost yields while helping farmers use less chemicals is artificial intelligence, which is being used to analyze which seeds and crops can yield the most based on changing soil conditions and weather patterns on a farm. The promise of quantum computers would let companies use massive computing power to develop and analyze new seeds and fertilizers.Scientists also are developing new plant varieties, with applications for new varieties up 9% in 2018, according to the World Intellectual Property Organization. China led the growth, with more than a quarter of the applications for new varieties.Much of the research in crop biotech is centered in the U.S., China, Germany, Japan and South Korea, though it’s being adapted to meet local conditions in Africa, Latin America and Asia, according to WIPO, an agency of the U.N.Demand for more food will be greatest in Africa, India and the Middle East. In the developing world, there is little food scarcity because “we did good things with all that ‘better living through chemistry,’” Kling said, referring to a play on an old DuPont motto. It has come at a cost, though.“We’re starting to see some of the effects of that -- all of this wonderful industrialization has contributed to climate change,” Kling said. “We’re starting to see people swing back in the other direction.”(Adds executive comment in fifteenth paragraph)To contact the reporters on this story: Lydia Mulvany in Chicago at lmulvany2@bloomberg.net;Susan Decker in Washington at sdecker1@bloomberg.netTo contact the editors responsible for this story: Jon Morgan at jmorgan97@bloomberg.net, ;James Attwood at jattwood3@bloomberg.net, Elizabeth WassermanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Reuters
UPDATE 2-U.S. Senate committee backs Russia energy bills, delays vote on sanctions 'from hell'
WASHINGTON/VIENNA, Dec 12 (Reuters) - Underscoring U.S. lawmakers' continuing unhappiness with Russia, a Senate committee on Wednesday advanced legislation seeking to hamper Russian energy pipelines and boosting NATO but delayed voting on a measure nicknamed the "sanctions bill from hell" that would punish Moscow for meddling in the 2016 U.S. election. The Senate Foreign Relations Committee approved four energy bills, including the "Energy Security Cooperation with Allied Partners in Europe Act of 2019," which opposes Russia's Nord Stream 2 pipeline, encourages NATO countries not to buy Russian gas and expedites U.S. natural gas exports.
- Benzinga
Germany's €500 Million Cathode Factory To Boost European Electric Battery Production
German-based chemical company BASF has reportedly planned to build a cathode factory to the tune of €500 million in the state of Brandenburg, Germany, that will cater to materials for the battery production of electric cars. The existing BASF plant in Schwarzheide, Brandenburg, accommodates 1,973 workers, and the new cathode factory is expected to employ close to 8,000 people once set up.
- Moody's
Gaia Agro Securitizadora S.A. - 1ª, 2ª e 3ª Séries da 26ª Emissão de CRA -- Moody's assigns provisional ratings of (P) Baa3 (sf) / (P) Aaa.br (sf) to the first series of the 26th issuance of Gaia Agro Securitizadora S.A.'s agribusiness certificates, a Brazilian trade receivables securitization
The CRAs will be backed by trade receivables originated by BASF S.A. (BASF Brazil, not rated), subsidiary of BASF SE (BASF, long term rating A2, global scale, outlook stable), related to the sale of defensives for crop protection to agricultural producers, distributors and cooperatives.
- Zacks
Soft Demand, Tariffs Mar Diversified Chemical Industry Outlook
Soft Demand, Tariffs Mar Diversified Chemical Industry Outlook
- Reuters
Exclusive: Lone Star in exclusive talks to buy BASF construction chemicals unit -sources
Lone Star has entered exclusive negotiations to buy BASF's construction chemicals business as the German chemicals company seeks to focus on more profitable operations, people close to the matter said. The private equity firm vied with a consortium comprising buyout groups Cinven - which owns peer Chryso - and Bain for the world's largest maker of chemical additives for concrete, they said. A BASF spokesman confirmed that the company had proceeded to talk with only one bidder but declined to comment further.
- Reuters
Exclusive: Lone Star in exclusive talks to buy BASF construction chemicals unit - sources
Lone Star has entered exclusive negotiations to buy BASF's construction chemicals business as the German chemicals company seeks to focus on more profitable operations, people close to the matter said. The private equity firm vied with a consortium comprising buyout groups Cinven - which owns peer Chryso - and Bain for the world's largest maker of chemical additives for concrete, they said. A BASF spokesman confirmed that the company had proceeded to talk with only one bidder but declined to comment further.
- PR Newswire
Chemetall completes expansion of its production site in Langelsheim, Germany
FRANKFURT, Germany, Nov. 13, 2019 /PRNewswire/ -- The Surface Treatment global business unit of BASF's Coatings division, operating under the Chemetall brand, has inaugurated a new laboratory and office building in Langelsheim, Germany. This completes the expansion of the production site in Lower Saxony which focuses on the development and production of aerospace technologies. "We are positioning Chemetall with the capacity expansion for the future.
- Moody's
Solenis Holdings LLC -- Moody's announces completion of a periodic review of ratings of Solenis Holdings LLC
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Solenis Holdings LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
- Reuters
BASF invites final private equity bids for construction chems unit - sources
German chemicals group BASF has asked the two remaining private-equity suitors of its 3 billion euro (£2.6 billion) construction chemicals unit for final bids by Friday, three people close to the matter said. A consortium comprising buyout groups Cinven and Bain is expected to table an offer, as is rival investor Lone Star, which is bidding alone, the three people said on Thursday. The sale has been long and drawn out as BASF put the construction chemicals business on the block a year ago to focus on more profitable operations.
- Reuters
UPDATE 1-BASF invites final private equity bids for construction chems unit -sources
German chemicals group BASF has asked the two remaining private-equity suitors of its 3 billion euro ($3.3 billion) construction chemicals unit for final bids by Friday, three people close to the matter said. A consortium comprising buyout groups Cinven and Bain is expected to table an offer, as is rival investor Lone Star, which is bidding alone, the three people said on Thursday. The sale has been long and drawn out as BASF put the construction chemicals business on the block a year ago to focus on more profitable operations.
- Reuters
German chemicals industry sees no reason for optimism after Q3 revenues drop
German chemicals association VCI on Wednesday said it saw no positive signals for the chemical industry after reporting a 2.4% drop in third-quarter revenues, citing a weakening auto market, a drop in domestic orders and sluggish global growth. "The situation for the chemical industry is not easy," VCI President Hans Van Bylen said. Production in the chemical and pharmaceutical industries, which are significant contributors to Germany's gross domestic product, fell 0.6% in the third quarter of the year, VCI said, adding that falling prices weighed on third-quarter revenues.
- Moody's
BASF Finance Europe NV -- Moody's announces completion of a periodic review of ratings of BASF (SE)
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of BASF (SE) and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
