Internal forecasts: BASF to increase its share in the plant protection market of Ukraine to 17% in 2018
Based on the third-party measurements by Kleffmann Group, the share of BASF in the plant protection market of Ukraine reached about 15% in 2017. This figure may increase by 2% in the current year, according to the company's internal forecasts.
This information was shared by the top managers of BASF: Livio Tedeschi, Senior Vice President of BASF, who visited Ukraine on a special visit, and Tiberiu Dima, the head of the department of BASF Agricultural Solutions in Ukraine, Moldova and the Caucasus, at the press conference in Kiev on August 21
"In 2017, BASF's performance in Europe peaked. Ukraine was instrumental in this process. Besides, Ukraine has shown the fastest growth rate since BASF entered its market," said Livio Tedeschi.
Tiberiu Dima added that the last year of 2017 was the record year for the company in terms of business development and success for the entire period of the company's operation in the country.
"BASF business is really growing in Ukraine breaking records both in supply of agricultural solutions and industrial ones. According to preliminary estimates, 2018 will be another record year for BASF Ukraine," added Tiberiu Dima.
Reference: BASF has closed the acquisition of a range of businesses and assets from Bayer. The transaction marks its entry into seeds, non-selective herbicides, and nematicide seed treatments. BASF signed agreements in October 2017 and some adjustments in April 2018. Bayer offered to divest the businesses and assets in the context of its acquisition of Monsanto for EUR 7.6 billion. About 4,500 Bayer employees joined BASF through the acquisition.