PHILADELPHIA, Oct. 11, 2018 /PRNewswire/ -- Livent Corporation
(NYSE: LTHM), a leading, global, fully integrated lithium company,
opens for trading today on the New York Stock Exchange (NYSE) after
its initial public offering.
"We are pleased to welcome Livent to the NYSE," said
John Tuttle, NYSE COO. "We
congratulate Livent Corporation on this important milestone and are
proud to join them in marking this exciting new chapter for the
company and its shareholders."
"Today marks an important achievement for Livent Corporation,"
said Paul Graves, chief executive
officer of Livent. "We are honored to join the members of NYSE and
look forward to the opportunities this creates for continued
investment in Livent's long-term growth."
FMC Corporation (NYSE: FMC), principal shareholder of Livent
Corporation, first announced its intent to establish its lithium
business as a separate, publicly traded company in March 2017. Following the IPO, FMC expects to
retain approximately 85% of Livent's outstanding common stock until
such time that FMC elects to distribute through a spin-off or
split-off the remaining Livent shares to existing FMC shareholders,
thus completing the full separation of Livent from FMC.
About Livent
For more than six decades, Livent has
partnered with its customers to safely and sustainably use lithium
to power the world. Livent is one of only a small number of
companies with the capability, reputation, and know-how to produce
high-quality finished lithium compounds that are helping meet the
growing demand for lithium. The company has one of the broadest
product portfolios in the industry, powering demand for green
energy, modern mobility, the mobile economy, and specialized
innovations, including light alloys and lubricants. Livent employs
approximately 700 people throughout the world and operates
manufacturing sites in the United
States, England,
India, China and Argentina. For more information, visit
Livent.com.
Safe Harbor Statement under the Private Securities Act of
1995: Certain statements in this news release are forward-looking
statements. In some cases, you can identify these statements
by forward-looking words such as "may," "might," "will," "should,"
"expects," "plans," "anticipates," "believes," "estimates,"
"predicts," "potential" or "continue," the negative of these terms
and other comparable terminology. These forward-looking statements,
which are subject to risks, uncertainties and assumptions about us,
may include projections of our future financial performance, our
anticipated growth strategies and anticipated trends in our
business. These statements are only predictions based on our
current expectations and projections about future events. There are
important factors that could cause our actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed
or implied by the forward-looking statements, including a decline
in the growth in demand for electric vehicles; adverse global
economic conditions; volatility in the price for performance
lithium compounds; risks relating to our production expansion and
related capital expenditures; development and adoption of battery
technologies that do not rely on performance lithium compounds as
an input; the size of our international operations and sales,
including political, financial and operational risks specific to
Argentina and other countries
where we have active operations, including China; customer concentration and the loss of,
or significant reduction in orders from, large customers; failure
to satisfy customer quality standards; fluctuations in the price of
energy and certain raw materials; failure to achieve the expected
benefits of our separation from FMC as well as the other factors
described under the caption entitled "Risk Factors" in our
registration statement on Form S-1 filed with the Securities and
Exchange Commission. Although we believe the expectations reflected
in the forward-looking statements are reasonable, we cannot
guarantee future results, level of activity, performance or
achievements. Moreover, neither we nor any other person assumes
responsibility for the accuracy and completeness of any of these
forward-looking statements. We are under no duty to update any of
these forward-looking statements after the date of this news
release to conform our prior statements to actual results or
revised expectations.
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SOURCE Livent Corporation