BASF invests in Social Business in Bangladesh

Enlarge image BASF Grameen Ltd. (© BASF) BASF SE and Grameen Healthcare Trust established the Joint Venture BASF Grameen Ltd. in Bangladesh on March 3, 2009. The purpose of the joint venture is to improve the health and business opportunities of the poor in Bangladesh. BASF is the first DAX30 Company and the first chemical company in the world to set up a social business with Grameen.

BASF and Grameen Healthcare Trust jointly embarked on a new path by founding BASF Grameen Ltd which is a social business company. The social business serves social purposes, covers its own costs and recoups the partners’ initial investment. Additional profit is reinvested fully in the company for further development. The company’s office is located in Dhaka, the capital of Bangladesh.

Enlarge image Impregnated Mosquito Net (LLIN) called Interceptor® (© BASF) According to the WHO World Malaria Report 2008, 72 percent of the Bangladeshi population is at risk of malaria. This is why BASF Grameen Ltd. has introduced impregnated mosquito nets that offer protection against malaria and other insect-borne diseases. Thereby, BASF contributes to reaching the Millennium Development Goal of combating malaria.

The Long Lasting Impregnated Mosquito Net (LLIN) called Interceptor® is treated with Fendozin® and results in a knock down action that provides long lasting protection against mosquitoes. The net retains its characteristics up to 20 washes and the size of the nets has been customized for Bangladesh, which can accommodate the whole family under one net.

In the initial stage, distribution of the products will focus on large consumers and established distribution channels. This will familiarize people with the benefit and correct use of the mosquito nets. Grameen Bank plans to provide microcredit to support people in setting up their own distribution outlets and in funding the purchase of mosquito nets.

About BASF

BASF is the leading supplier of chemicals in Bangladesh. BASF Bangladesh Limited markets and distributes BASF products ranging from chemicals, plastics and performance products to agricultural products and fine chemicals. BASF Bangladesh Limited has a repackaging facility for Crop Protection products as well as three labs for textile, leather chemicals and construction chemicals respectively. These labs are equipped with the latest testing equipment and managed by industry experts, who provide technical and process support to customers. In 2010, BASF Bangladesh reported sales of € 67.3 mil.

BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and agricultural products to oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of about €63.9 billion in 2010 and had approximately 109,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).

Copyright: BASF Grameen Ltd.