German chemical giant BASF has announced that it will halt the development or commercialisation of genetically modified (GM) crops in Europe, and move its biotech R&D operations to the US. The firm cited consumer and political resistance to transgenic plants in Europe for its decision.
BASF will now concentrate its plant biotechnology activities in North and South America, and the headquarters of BASF Plant Science will be moved from Limburgerhof, Germany, to Raleigh, North Carolina, US. BASF expects that this will result in the loss of 140 jobs in Europe.
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