DOCSLIB.ORG

Case M.8851 - BASF / BAYER DIVESTMENT BUSINESS

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Case M.8851 - BASF / BAYER DIVESTMENT BUSINESS EUROPEAN COMMISSION DG Competition Case M.8851 - BASF / BAYER DIVESTMENT BUSINESS Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) in conjunction with Art 6(2) Date: 30/04/2018 In electronic form on the EUR-Lex website under document number 32018M8851 EUROPEAN COMMISSION Brussels, 30.4.2018 C(2018) 2747 final PUBLIC VERSION In the published version of this decision, some information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general description. To the notifying party Subject: Case M.8851 – BASF/Bayer Divestment Business Commission decision pursuant to Article 6(1)(b) in conjunction with Article 6(2) of Council Regulation No 139/20041 and Article 57 of the Agreement on the European Economic Area2 1 OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The terminology of the TFEU will be used throughout this decision. 2 OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement'). Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË Tel: +32 229-91111. Fax: +32 229-64301. E-mail: [email protected]. TABLE OF CONTENTS 1. THE PARTIES ............................................................................................................ 5 2. THE CONCENTRATION .......................................................................................... 6 3. UNION DIMENSION ................................................................................................. 6 4. COMPETITIVE ASSESSMENT ................................................................................ 6 4.1. Weed management ............................................................................................ 7 4.1.1. Introduction ......................................................................................... 7 4.1.2. Definition of innovation spaces in NSH .............................................. 8 4.1.2.1. Commission precedents ....................................................... 8 4.1.2.2. Notifying Party's views ....................................................... 9 4.1.2.3. Commission assessment ...................................................... 9 4.1.2.4. Conclusion ........................................................................... 9 4.1.3. Activities of the Parties and their competitors..................................... 9 4.1.3.1. BASF's herbicide innovation ............................................... 9 4.1.3.2. The Bayer Divestment Business's herbicide innovation .......................................................................... 12 4.1.3.3. Competitors' innovation in NSH ....................................... 14 4.1.4. Notifying Party's views ...................................................................... 15 4.1.5. Competitive assessment in NSH innovation ..................................... 16 4.1.5.1. The Transaction would likely reduce innovation competition between the Parties' overlapping and close NSH pipeline projects with a [NSH line of research 1] ......................................................................... 16 4.1.5.2. The Bayer Divestment Business's [NSH line of research 2] does not overlap with BASF's NSH innovation efforts............................................................... 22 4.1.5.3. The Bayer Divestment Business's [NSH line of research 3] does not overlap with BASF's NSH innovation efforts............................................................... 23 4.1.6. Conclusion ......................................................................................... 24 4.2. Traits ................................................................................................................ 24 4.2.1. Introduction ....................................................................................... 24 4.2.2. Activities of the Parties ..................................................................... 27 4.2.2.1. BASF ................................................................................. 27 4.2.2.2. Bayer Divestment Business ............................................... 29 4.2.2.3. Overlaps between BASF and Bayer Divestment Business ............................................................................. 30 2 4.2.3. Market definition ............................................................................... 31 4.2.3.1. Product market definition .................................................. 31 4.2.3.2. Geographic market definition ............................................ 33 4.2.4. Competitive assessment: price/ product competition in HT traits ................................................................................................... 34 4.2.4.1. Notifying Party's view ....................................................... 34 4.2.4.2. Commission assessment .................................................... 34 4.2.4.3. Conclusions on price/product competition in HT traits ................................................................................... 37 4.2.5. Competitive assessment: innovation competition in GM HT traits ................................................................................................... 37 4.2.5.1. Notifying Party's view ....................................................... 37 4.2.5.2. Commission assessment .................................................... 37 4.2.5.3. Conclusions on competition in GM HT trait innovation .......................................................................... 40 4.2.6. Competitive assessment: innovation competition in GM DR traits ................................................................................................... 40 4.2.6.1. Notifying Party's view ....................................................... 40 4.2.6.2. Commission assessment .................................................... 41 4.2.6.3. Conclusion on innovation competition in GM DR traits ................................................................................... 43 4.2.7. Conclusion on traits ........................................................................... 43 4.3. Seed treatment ................................................................................................. 43 4.3.1. Introduction ....................................................................................... 43 4.3.2. Market definition ............................................................................... 44 4.3.2.1. Product Market Definition ................................................. 44 4.3.2.2. Geographic market definition ............................................ 46 4.3.3. Activities of the Parties ..................................................................... 46 4.3.3.1. BASF's activities in seed treatment ................................... 46 4.3.3.2. Bayer Divestment Business' activities in seed treatment ............................................................................ 47 4.3.4. Competitive assessment in nematicidal seed treatment ..................... 48 4.3.4.1. Notifying Party arguments ................................................ 48 4.3.4.2. Commission assessment .................................................... 48 4.3.4.3. Conclusion on nematicidal seed treatment ........................ 52 4.3.5. Insecticidal seed treatment................................................................. 52 4.3.6. Vertical links between seed treatment (up-stream) and (treated) seeds (down-stream) ........................................................... 53 4.3.7. Conclusion on seed treatment ............................................................ 53 3 4.4. Digital Agriculture ........................................................................................... 53 4.4.1. Overview of the digital agriculture sector ......................................... 53 4.4.2. Activities of the Parties in digital agriculture .................................... 54 4.4.2.1. BASF's activities in digital agriculture .............................. 54 4.4.2.2. The Bayer Digital Agriculture Assets ............................... 57 4.4.3. Market definition ............................................................................... 59 4.4.3.1. Product market definition .................................................. 59 4.4.3.2. Geographic market definition ............................................ 60 4.4.4. Competitive assessment: Digital agriculture ..................................... 61 4.4.4.1. Notifying Party's views ..................................................... 61 4.4.4.2. Commission assessment .................................................... 61 4.4.5. Conclusion on digital agriculture ...................................................... 62 5. PROPOSED REMEDIES .......................................................................................... 62 5.1. Framework of the assessment of the commitments ......................................... 62 5.2. Commitments submitted by the Notifying Party
Load more

Recommended publications
  • Allianz Sustainable Investin G Report 2019
    Active is: Securing a brighter future Sustainable Investing Report 2019 Value. Shared. Lorem ipsum Contents Highlights 4 Advancing ESG integration 5 Expanding our sustainable investing offering 6 Integrating ESG in Fixed Income Active stewardship 8 Presenting a viewpoint: active engagement at AllianzGI 11 Engagement for work: an external perspective 12 Proxy voting The role of sustainable investing 14 Financing the transition: funding the low-carbon economy 17 Case study on carbon management: a guest contribution by the CEO of BASF SE 18 Impact investing and the UN's sustainability goals Insights 20 ESG and your portfolio: how do ESG factors impact portfolio performance? 22 Demand for ESG investments is growing: investors need guidance to turn interest to action 24 A new regulatory environment: the European Commission’s action plan for financing sustainable growth Client voices 26 Real results: ESG in action Environmental matters 30 Sea Cleaners: it‘s time to act 32 Becoming more eco-friendly 34 Active is: Fostering a low-carbon economy Allianz Global Investors twitter.com/AllianzGI_VIEW 2 Active is: Securing a brighter future The investment industry appears to be reaching a tipping point, where sustainable investing is no longer seen as a trend but rather as an intrinsic part of the way we run – or at least are expected to run – money as asset managers. As an active investor with a long-term outlook, we consider sustainability issues intuitively in our investment decisions and engagement. For colleagues across AllianzGI, this is part of our firm’s DNA. However, we also consider these issues consciously and deliberately.
    [Show full text]
  • PDF Viewing Archiving 300
    I.C.FARBEN" INDUSTRIE AKTIEN" GESELLSCHAFT FRANKFURT (MAIN) 1 9 3 8 I. G. Farbenindustrie Aktiengesellschaft Frankfurt am Main Bericht des Vorstands und des Aufsichtsrats und Jahresabschluß für das Geschäftsjahr 1938. VORSTAN Geheimer Kommerzienrat Dr. HERMANN SCHMITZ, Ludwigshafen a. Rh./Heidelberg, Vorsitzer, Dr. FRITZ GAJEWSKI, Leipzig, Professor Dr. HEINRICH HäRLEIN, Wuppertal-Elberfeld, Dr. AUGUST v. KNIERIEM, Mannheim, Zentralausschuß Dr. CARL KRAUCH, Heidelberg-Schlierbach, Dr. FRITZ TER MEER, Kronberg (Taunus), Dr. CHRISTIAN SCHNEIDER, Leuna, Dr. GEORG von SCHNITZLER, Frankfurt (Main), Dr. OTTO AMBROS, Ludwigshafen a. Rh., Dr. MAX BRÜGGEMANN, Leverkusen-Wiesdorf, Dr. ERNST BÜRGIN, Bitterfeld, Dr. HEINRICH BÜTEFISCH, Leuna, Ministerialrat a. D. Dr. BERNHARD BUHL, Frankfurt (Main), PAUL HAEFLIGER, Frankfurt (Main), Dr. MAX JLGNER, Berlin-Steglitz, Dr. CONSTANTIN JACOBI, Frankfurt (Main), Dipl. Ing. FRIEDRICH JÄHNE, Frankfurt (Main), Dr. HANS KÜHNE, Leverkusen-Wiesdorf, Professor Dr. CARL LUDWIG LAUTENSCHLÄGER, Frankfurt (Main), Generalkonsul WILHELM RUDOLF MANN, Leverkusen-Wiesdorf. Dr. HEINRICH OSTER, Berlin-Charlottenburg, Kommerzialrat WILHELM OTTO, Berlin-Zehlendorf-West, Dr. OTTO SCHARF, Halle (Saale), Kommerzienrat HERMANN WAIBEL, Wiesbaden, Dr. HANS WALTHER, Frankfurt (Main), EDUARD WEBER-ANDREAE, Frankfurt (Main), Dr. CARL WURSTER, Ludwigshafen a. Rh. Im Geschäftsjahr oder nachher ausgeschieden: Kommerzienrat Dr. LUDWIG HERMANN, Frankfurt (Main) t 31. 5. 1938. AUFSICHTSRAT. Geheimer Kommerzienrat Professor Dr. CARL BOSCH, Heidelberg, Vorsitzer, Dr. WALTHER vom RATH, Kronberg (Taunus), stellvertretender Vorsitzer, Dr. WILHELM FERDINAND KALLE, Tutzing (Oberbayern), stellvertretender Vorsitzer, Dr. AXEL AUBERT, Oslo, Dr. RICHARD BAYER, Haus Falkenberg, Trills über Wuppertal-Vohwinkel, W ALDEMAR von BÖTTINGER, Landwirt, Schloß Arensdorf i. d. Neumark, Dr. WALTER von BRÜNING, Polizeipräsident a. D., Semper a. Rügen, Kommerzienrat LOTHAR BRUNCK, Kirchheimbolanden (Pfalz), Dr. CARL LUDWIG DUISBERG, Berlin-Zehlendorf-MiUe, Kommerzienrat Dr.
    [Show full text]
  • We Drive Sustainable Solutions
    We drive sustainable solutions Dr. Tim Balensiefer Investor Relations Allianz Investor Day Frankfurt, June 5, 2018 1 Cautionary note regarding forward-looking statements This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors; they involve various risks and uncertainties; and they are based on assumptions that may not prove to be accurate. Such risk factors include those discussed in the Opportunities and Risks Report from page 111 to 118 of the BASF Report 2017. BASF does not assume any obligation to update the forward-looking statements contained in this presentation above and beyond the legal requirements. 2 Sustainability along the value chain Our commitments Suppliers BASF Customers We source We produce safely We drive responsibly for people and sustainable the environment solutions We produce efficiently We value people and treat them with respect 3 Sustainable development UN Sustainable Development Goals and material aspects provide strategic frame BASF material Energy Food Water Resources Responsible Products Partnering Employment aspects and and eco- production and and employ- BASF particularly climate systems solutions ability contributes to: 1 No poverty 2 No hunger 3 Good health 4 Quality education 5 Gender equality 6 Clean water and sanitation 7
    [Show full text]
  • 3 Corporate Governance Report
    Chapter 3 pages 148–184 Corporate Governance Report 149 Compensation Report 162 Compliance 157 Report of the Supervisory Board 176 Management and Supervisory Boards 159 Declaration of Conformity Pursuant to ­­ Board of Executive Directors 159 Section 161 AktG 183 Supervisory Board 160 Declaration of Corporate Governance 184 3Corporate Governance About This Report 1 To Our Shareholders 2 Management’s Report 3 Corporate Governance 4 Consolidated Financial Statements 5 Overviews Corporate Governance Report Corporate Governance Super visory Board; and the shareholders’ rights of co-administra- the establishment of appropriate systems for control, compliance tion and supervision at the Annual Shareholders’ Meeting. and risk management as well as establishing a company-wide Report compliance culture with undisputed standards. Direction and management by the Board of Executive Directors Decisions that are reserved for the Board as a whole by law, through Corporate governance refers to the entire system for the Board of Executive Directors’ Rules of Procedure or through managing and supervising a company. This includes its ▪ Board of Executive Directors strictly separate from the resolutions adopted by the Board, are made at regularly held Board organization, values, corporate principles and guidelines Supervisory Board meetings called by the Chairman of the Board of Executive Directors. as well as internal and external control and monitoring ▪ Responsible for company management Board decisions are based on detailed information and analyzes mechanisms. Effective and transparent corporate gover- ▪ Sets corporate goals and strategic direction provided by the business areas and specialist units, and, if deemed nance ensures that BASF is managed and supervised necessary, by external consultants. Board decisions can generally responsibly with a focus on value creation.
    [Show full text]
  • Euro Stoxx® 50 Ex Banks Index
    BLUE-CHIP INDICES 1 EURO STOXX® 50 EX BANKS INDEX Index description Key facts STOXX calculates several ex region, ex country and ex sector indices. This » Transparent and rules-based methodology means that from the main index a specific region, country or sector is » Buffer rule aims to reduce turnover excluded. The sector classification is based on ICB Classification (www.icbenchmark.com.) Some examples: » Weighted by free-float market cap a) Blue-chip ex sector: the EURO STOXX 50 ex Financial Index excludes all companies assigned to the ICB code 8000 b) Benchmark ex region: the STOXX Global 1800 ex Europe Index excludes all companies from Europe c) Benchmark ex country: the STOXX Europe 600 ex UK Index excludes companies from the United Kingdom d) Size ex sector: the STOXX Europe Large 200 ex Banks Index excludes all companies assigned to the ICB code 8300 Risk and return figures1 Index returns Return (%) Annualized return (%) Last month YTD 1Y 3Y 5Y Last month YTD 1Y 3Y 5Y EURO STOXX 50 ex Banks Index 0.1 3.5 1.9 29.1 49.4 N/A N/A 1.9 9.0 8.5 EURO STOXX 50 Index 0.3 0.2 -2.1 22.1 40.3 N/A N/A -2.1 7.0 7.1 Index volatility and risk Annualized volatility (%) Annualized Sharpe ratio2 EURO STOXX 50 ex Banks Index 11.5 12.9 12.1 15.6 17.0 N/A N/A 0.3 0.6 0.5 EURO STOXX 50 Index 11.3 12.9 12.0 16.6 17.9 N/A N/A -0.1 0.5 0.4 Index to benchmark Correlation Tracking error (%) EURO STOXX 50 ex Banks Index 1.0 1.0 1.0 1.0 1.0 2.4 1.9 2.0 2.9 2.7 Index to benchmark Beta Annualized information ratio EURO STOXX 50 ex Banks Index 1.0 1.0 1.0 0.9 0.9 -1.3 2.3 2.0 0.6 0.4 Performance and annual returns3 1 For information on data calculation, please refer to STOXX calculation reference guide.
    [Show full text]
  • RWE, BASF and Linde
    News release Herrn Peter Karl Wettstein BASF SE WLL/SD D 211 - Raum 205 RWE, BASF and Linde: Breakthrough in capturing carbon from flue gas of coal-fired power plants New technology saves 20 percent on energy input and clearly reduces solvent consumption Key to climate-compatible coal-based power generation Essen/Cologne/Ludwigshafen, 03. September 2010 Since 2009 RWE, Linde and BASF have been testing a new technology for separating carbon dioxide (CO2) from flue gas in a pilot plant at RWE’s Niederaussem power station near Cologne. The results of the practical test are now available: Compared to processes commonly run today, the innovative technology that captures CO2 by means of new chemical solvents can reduce energy input by about 20 percent. The new solvents also feature clearly superior oxygen stability, which reduces solvent consumption significantly. “We are pleased with this breakthrough, which we have achieved by cooperating closely with BASF and Linde. By enhancing efficiency and accordingly reducing costs, we have created a critical success factor for carbon capture technology, which in our view is key to climate- compatible power generation from coal,” underlines Dr. Johannes Heithoff, Vice President, Research and Development, RWE Power. “The practical tests met all of the expectations we had after lab-testing the new solvent. This paves the way for scaling up the process to large power plants,” says Dr. Andreas Northemann, Business Manager, Global Gas Treatment, BASF Intermediates division. “We are very satisfied with the results of the practical tests, too,” says Dr. Aldo Belloni, Member of the Executive Board of Linde AG.
    [Show full text]
  • Case M.8851 – BASF / BAYER DIVESTMENT BUSINESS
    EUROPEAN COMMISSION DG Competition Case M.8851 – BASF / BAYER DIVESTMENT BUSINESS Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Decision on the implementation of the commitments - Purchaser approval Date: 07/11/2018 EUROPEAN COMMISSION Brussels, 07.11.2018 C(2018) 7488 final PUBLIC VERSION In the published version of this decision, some information has been omitted pursuant to Article 17(2) of Council Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures or a general description. To the notifying party Dear Sir/Madam, Subject: Case M.8851 – BASF / Bayer Divestment Business Approval of Syngenta Crop Protection AG as purchaser of the [NSH line of research 1 remedy package], following your letter of 13 September 2018 and the Trustee’s opinion of 18 October 2018 FACTS AND PROCEDURE 1. By decision of 30 April 2018 (the "Decision") pursuant to Article 6(1)(b) in conjunction with Article 6(2) of Council Regulation (EC) No 139/2004 of 20 January 2004 on the control of concentrations between undertakings1 (the "Merger Regulation"), the Commission declared the acquisition of assets of Bayer Aktiengesellschaft (the "Bayer Divestment Business") by BASF SE ("BASF") compatible with the internal market subject to full compliance with the commitments submitted by BASF, which were annexed to the Decision (the "Commitments"). 2. In particular, pursuant to the Decision, the Commitments provide that in order to address the serious doubts raised by the combination of BASF's and the Bayer Divestment Business' activities in certain nematicide markets as well as in weed management innovation, BASF would divest (i) its Trunemco nematicide (the "Trunemco Assets") as well as, separately, (ii) a package of data and intellectual 1 OJ L 24, 29.01.2004, p.
    [Show full text]
  • News Release May 21, 2021
    Joint News Release May 21, 2021 BASF and RWE plan to cooperate on new technologies for climate protection ◼ Green electricity and innovative production technologies could make the Ludwigshafen chemical site a lighthouse for climate protection in the chemical industry ◼ Additional offshore wind farm with a capacity of 2 GW would provide BASF with green electricity for CO2-free production processes from 2030 ◼ Letter of intent focuses on climate-neutral chemical industry and CO2-free hydrogen Today in Ludwigshafen, Germany, Dr. Martin Brudermüller (BASF) and Dr. Markus Krebber (RWE), accompanied by Chairman of the Mining, Chemical and Energy Industries Union (IG BCE) Michael Vassiliadis, presented a project idea that shows how industrial production can become sustainable and future-proof. The project envisions an additional offshore wind farm with a capacity of 2 gigawatts (GW) to provide the Ludwigshafen chemical site with green electricity and enable CO2-free production of hydrogen. The aim is to electrify the production processes for basic chemicals, which are currently based on fossil fuels. This will involve utilizing CO2-free technologies such as electrically heated steam cracker furnaces to produce petrochemicals. BASF is already working with partners on developing these technologies. To advance the joint project, the CEOs of BASF and RWE have signed a letter of intent covering a wide-ranging cooperation for the creation of additional capacities for renewable electricity and the use of innovative technologies for climate protection. “Together we want to accelerate the transition to a CO2-neutral chemical industry through electrification and through the use of CO2-free hydrogen,” said Brudermüller and Krebber.
    [Show full text]
  • I.G. Farben's Petro-Chemical Plant and Concentration Camp at Auschwitz Robert Simon Yavner Old Dominion University
    Old Dominion University ODU Digital Commons History Theses & Dissertations History Summer 1984 I.G. Farben's Petro-Chemical Plant and Concentration Camp at Auschwitz Robert Simon Yavner Old Dominion University Follow this and additional works at: https://digitalcommons.odu.edu/history_etds Part of the Economic History Commons, and the European History Commons Recommended Citation Yavner, Robert S.. "I.G. Farben's Petro-Chemical Plant and Concentration Camp at Auschwitz" (1984). Master of Arts (MA), thesis, History, Old Dominion University, DOI: 10.25777/7cqx-5d23 https://digitalcommons.odu.edu/history_etds/27 This Thesis is brought to you for free and open access by the History at ODU Digital Commons. It has been accepted for inclusion in History Theses & Dissertations by an authorized administrator of ODU Digital Commons. For more information, please contact [email protected]. 1.6. FARBEN'S PETRO-CHEMICAL PLANT AND CONCENTRATION CAMP AT AUSCHWITZ by Robert Simon Yavner B.A. May 1976, Gardner-Webb College A Thesis Submitted to the Faculty of Old Dominion University in Partial Fulfillment of the Requirements for the Degree of MASTER OF ARTS HISTORY OLD DOMINION UNIVERSITY August 1984 Approved by: )arw±n Bostick (Director) Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. Copyright by Robert Simon Yavner 1984 All Rights Reserved Reproduced with permission of the copyright owner. Further reproduction prohibited without permission. ABSTRACT I.G. FARBEN’S PETRO-CHEMICAL PLANT AND CONCENTRATION CAMP AT AUSCHWITZ Robert Simon Yavner Old Dominion University, 1984 Director: Dr. Darwin Bostick This study examines the history of the petro­ chemical plant and concentration camp run by I.G.
    [Show full text]
  • Qualitative and Quantitative Analysis of Volkswagen
    QUALITATIVE AND QUANTITATIVE ANALYSIS OF VOLKSWAGEN Authors (Universitat de Barcelona): Cristina Gómez Bule Gonzaga Mestre Galofé Paula Rosselló Garriga EDITOR: Jordi Marti Pidelaserra (Dpt. Comptabilitat, Universitat Barcelona) Volkswagen AG Volkswagen Group Analyzing the company Paula Rosselló , Gonzaga Mestre y Cristina Gómez INDEX 13 - 2 - Volkswagen AG QUALITATIVE ANALYSIS PART I: Volkswagen analyze 1. Introduction..................................................................................................................4 2. Volkswagen AG...........................................................................................................6 * Porsche case: its relation with Volkswagen................................................................13 3. CEO members...........................................................................................................14 4. Volkswagen evolution................................................................................................15 5. Shareholders.............................................................................................................16 6. Stakeholders..............................................................................................................16 7. Volkswagen CSR.......................................................................................................20 8. Location.....................................................................................................................21 9. Emerging markets.....................................................................................................22
    [Show full text]
  • Convocation of the Annual Meeting of Daimler AG 2021 - ISIN DE 000 710 000 0
    Convocation of the Annual Meeting of Daimler AG 2021 - ISIN DE 000 710 000 0 - Daimler AG Stuttgart We herewith invite our shareholders to the virtual Annual Meeting of Daimler AG* on Wednesday, March 31, 2021 at 10:00 a.m., (CEST). The Annual Meeting is held exclusively as a virtual Annual Meeting without the physical presence of shareholders or their proxies (with the exception of the Company’s voting proxies). The virtual Annual Meeting is transmitted in full for shareholders entered in the share register via the e-service for share- holders at w register.daimler.com and broadcast audio-visually online. The introductory statement of the Chairman of the Supervisory Board and the speech by the Chairman of the Board of Management can also be followed by the interested public online at w www.daimler.com/am-2021. Voting rights may only be exercised by shareholders and their representatives by absentee voting or by granting power of attorney to the proxies appointed by the Company. The venue for the Annual Meeting within the meaning of the German Stock Corporation Act (Aktiengesetz) is Carl Benz-Arena, Mercedesstr. 73d, 70372 Stuttgart, Ger- many. * Convenience translation; the German text is legally binding. All time specifications refer to German local time 1 Agenda 5. Resolution on the appointment of the auditor for the annual financial statements and the auditor for the consol- 1. Presentation of the adopted annual financial state- idated financial statements as well as the auditor for the ments of Daimler AG, the approved consolidated
    [Show full text]
  • BASF and RWE Plan to Cooperate on New Technologies for Climate Protection
    Joint News Release BASF and RWE plan to cooperate on new technologies for climate protection • Green electricity and innovative production technologies could make the Ludwigshafen chemical site a lighthouse for climate protection in the chemical industry • Additional offshore wind farm with a capacity of 2 GW would provide BASF with green electricity for CO2-free production processes from 2030 • Letter of intent focuses on climate-neutral chemical industry and CO2-free hydrogen Essen/Ludwigshafen, May 21, 2021 Today in Ludwigshafen, Germany, Dr. Martin Brudermüller (BASF) and Dr. Markus Krebber (RWE), accompanied by Chairman of the Mining, Chemical and Energy Industries Union (IG BCE) Michael Vassiliadis, presented a project idea that shows how industrial production can become sustainable and future-proof. The project envisions an additional offshore wind farm with a capacity of 2 gigawatts (GW) to provide the Ludwigshafen chemical site with green electricity and enable CO2-free production of hydrogen. The aim is to electrify the production processes for basic chemicals, which are currently based on fossil fuels. This will involve utilizing CO2-free technologies such as electrically heated steam cracker furnaces to produce petrochemicals. BASF is already working with partners on developing these technologies. To advance the joint project, the CEOs of BASF and RWE have signed a letter of intent covering a wide-ranging cooperation for the creation of additional capacities for renewable electricity and the use of innovative technologies for climate protection. “Together we want to accelerate the transition to a CO2-neutral chemical industry through electrification and through the use of CO2-free hydrogen,” said Brudermüller and Krebber.
    [Show full text]