Latin America to receive 252 million Euros from Basf
Valor Econômico 10/31/2007
German Basf has announced a plan of investments of 252 million Euros in South America until 2011. From this total, 90% will be invested in Brazil, especially in the modernization of its units of products for agriculture, and paints and additives for civil construction. The company, which currently has eight units in the country and 22 plants, will conclude next year investments of R$ 15 million (US$ 8.2 million) in the improvement of the industrial paint and varnishes complex in São Bernardo do Campo (SP), with capacity for 250 million liters per year. The goal is to increase this volume by 15%. This week, the company inaugurated a lab of environmental studies and food security, in Guaratinguetá (SP), which received investment of 3.15 million Euros. "That is the third lab of its kind in the world which, in addition to speeding up the rhythm of the studies with new products in Brazil, will be used to render services to nearby countries", says Eduardo Leduc, Basf Brazil's Director of products for agriculture. The company expects to grow 5% to 10% in the segment of products for agriculture in South America this year. In 2006, Basf registered revenues of 529 million Euros in South America from the unit of agriculture and nutrition products.