posted on Jan, 29 2013 @ 04:16 PM
The European Commission in Brussels had already announced it would freeze the approval process for the remainder of their mandated term - they need
time to negotiate with the member states of the EU.
Rather than continue the lobbying....
BASF said in a statement it will "discontinue the pursuit of regulatory approvals for the Fortuna, Amadea, and Modena potato projects in Europe
because continued investment cannot be justified due to uncertainty in the regulatory environment and threats of field destructions."
A year ago, the giant had announced it would halt the development and marketing of new genetically-modified products destined for the European market
over concerns in some countries over the technology.
And it also moved its plant science headquarters to the United States.
BASF is part of the megalithic corporate construct that has become tightly integrated with institutions of global governance, and surely knows when to
spend, and when not to. BASF is one of the German market companies with the largest percentage of private shareholders in Germany. More than a
quarter of it is held privately.
As one of the defacto poster-children for Big-Chem/Aggro, how this company strategically moves in terms of pushing products bears watching closely.
It should be interesting to note how their field trials in Germany, Sweden and the Netherlands are going for the GMO potatoes... or are those coming
tot he US along with their "Plant Sciences" division?
(visit the link for the full news article)
edit on 29-1-2013 by Maxmars because: (no reason given)
edit on 29-1-2013 by Maxmars
because: (no reason given)