PHILADELPHIA, Nov. 7, 2017 /PRNewswire/ -- FMC Corporation
(NYSE: FMC) today announced the signing of a definitive agreement
with Nufarm Limited to divest a portion of FMC's European herbicide
portfolio. Under the transaction, Nufarm will acquire FMC's
SU-class herbicides and Florasulam for post-emergence use to
control broadleaf weeds in cereals. In exchange, FMC will
receive $90 million, which includes
the purchase of existing product inventory. The divestiture
will satisfy FMC's commitments to the European Commission related
to its recent acquisition of a significant portion of DuPont's Crop
Protection business.
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The close of the transaction is subject to customary
conditions.
About FMC
For more than a century, FMC Corporation has served the global
agricultural, industrial and consumer markets with innovative
solutions, applications and quality products. On November 1, 2017, FMC acquired a significant
portion of DuPont's Crop Protection business. FMC's 2016 pro
forma revenue was approximately $4
billion.1 FMC employs more than 7,000 people
throughout the world and operates its businesses in two segments:
FMC Agricultural Solutions and FMC Lithium. For more
information, visit www.FMC.com.
1 2016 pro forma revenue assumes the transactions
with DuPont occurred at the beginning of the year and includes
twelve months of revenue from the DuPont Crop Protection business
and it excludes the revenue from FMC Health and Nutrition.
The pro forma revenue reflects FMC's calculation as of the date
hereof based on information currently available. Form 8-K
will be filed within 75 days of the transaction date and will
include unaudited pro forma condensed financial information related
to the transactions.
Safe Harbor Statement under the Private Securities Act of
1995: Statements in this news release that are forward-looking
statements are subject to various risks and uncertainties
concerning specific factors described in FMC
Corporation's 2016 Form 10-K and other SEC filings.
Such information contained herein represents management's best
judgment as of the date hereof based on information currently
available. FMC Corporation does not intend to update this
information and disclaims any legal obligation to the contrary.
Historical information is not necessarily indicative of future
performance.
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SOURCE FMC Corporation