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BASF is the world's leading chemical company. We aim to increase and sustain our corporate value through growth and innovation. We offer our customers a range of high-performance products, including chemicals, plastics, coating systems, dispersions, agricultural products, fine chemicals as well as crude oil and natural gas. Our distinctive approach to integration, known in German as Verbund, is our strength. It enables us to achieve cost leadership and gives us a decisive competitive advantage in the long term. We act in accordance with the principles of sustainable development. Badische Anilin- und Soda-Fabrik AG (BASF) is founded by Friedrich Engelhorn in Ludwigshafen, Germany, for the production of coal tar dyestuffs. Allied Control Council orders the dissolution of I.G. Farben. BASF's Ludwigshafen plant continues to operate independently. Under the name Badische Anilin- und Soda-Fabrik AG, BASF develops Styropor, a white rigid foam used as an insulating and packaging material. Company is incorporated under the name of Badische Anilin- und Soda-Fabrik AG. BASF establishes a join venture with The Dow Chemical Company, United States. BASF begins acquiring other companies to produce surface coatings, drugs, crop protection agents, and fertilizers. BASF acquires Wyandotte Chemicals Corporation, United States, and Wintershall AG, the German oil company. BASF & Gazprom (Russia's leading natural gas producer) establish WINGAS to market and distribute gas in Central and Eastern Europe. BASF is listed on the New York Stock Exchange (NYSE) under the listing BF and the company's worldwide pharmaceutical business is sold to Abbott Laboratories, Inc. The company begins transacting business via Elemica, a neutral electronic marketplace and sets up a global extranet platform, WorldAccount.