BASF AG said it plans to boost its investments in Latin America by $500 million through the year 2005.

BASF AG, Ludwigshafen, Germany, said it plans to boost its investments in Latin America by $500 million through the year 2005, saying the region represents significant long-term growth prospects. The company plans to invest $400 million in Brazil, which generates most of the company’s annual South American revenue of $1.8 billion. Recent moves by BASF in the region include the acquisition of the remaining 50% stake in its joint venture, Cofade, a specialty-chemicals company in Brazil that manufactures paint and polyurethane products for the automotive industry.