Bosch, BASF Create Joint Venture for Digital Products in Agriculture Industry
12 November 2020 - 10:26PM
Dow Jones News
By Kim Richters
Chemical company BASF SE and engineering group Robert Bosch GmbH
are setting up a joint venture to further develop digital
technologies for the agricultural sector, the companies said
Thursday.
"Thanks to connecting agricultural machinery using high-tech
sensors, intelligent software and digital products, we can make
tomorrow's agriculture more efficient and at the same time more
environmentally friendly," said Bosch's Andrew Allen, who is
responsible for the company's commercial vehicles and off-road
business.
Both German companies will have a 50% stake in the joint
business, which will be set up in the first quarter of next year
and be based in Cologne. The companies didn't disclose financial
details of the cooperation.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
November 12, 2020 06:11 ET (11:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
BASF (TG:BAS)
Historical Stock Chart
From Mar 2024 to Apr 2024
BASF (TG:BAS)
Historical Stock Chart
From Apr 2023 to Apr 2024