PHILADELPHIA, Jan. 30 /PRNewswire-FirstCall/ -- FMC Corporation (NYSE:
FMC) announced today plans to realign FMC BioPolymer alginates manufacturing
operations in Norway and the United Kingdom as the company continues
integration of the International Specialty Products (ISP) alginates business
acquired in August 2008. Under the plan, alginate extract production would be
consolidated at Haugesund, Norway, and finished product blending would be
conducted primarily at Girvan, Scotland. Plans will be finalized following a
consultation period with employees and unions in Norway and Scotland.
The realignment plan follows a thorough assessment of FMC BioPolymer's
combined alginate business and is consistent with the company's strategy to be
a strong, reliable and globally competitive supplier of hydrocolloid
ingredients to customers in the food, pharmaceutical and personal care
industries.
"This plan aligns our alginate manufacturing with core FMC strengths in
process technology, raw material access and blending," said Mike Smith, FMC
BioPolymer division manager. "This will ensure we retain best-in-class
capabilities and expertise in alginate extraction and blending, with the
broadest seaweed sourcing and supply chain infrastructure to serve our
customers."
Under the proposed plan, FMC expects to complete production and blending
realignment by the end of 2009. This includes the shutdown of blending at
FMC's Slippen, Norway, site and the transfer of extract production from Girvan
to Haugesund. There will be no change in the current operation or ownership
of the Iceland or Tasmania seaweed sourcing operations that FMC acquired from
ISP, nor will other product lines acquired from ISP be affected.
FMC Corporation is a diversified chemical company serving agricultural,
industrial and consumer markets globally for more than a century with
innovative solutions, applications and quality products. The company employs
approximately 5,000 people throughout the world and operates its businesses in
three segments: Agricultural Products, Specialty Chemicals and Industrial
Chemicals.
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 2007 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.
SOURCE FMC Corporation
01/30/2009
CONTACT: Media, Jim Fitzwater, +1-215-299-6633, or Investor Relations,
Brennen Arndt, +1-215-299-6266, both of FMC Corporation
Web Site: http://www.fmc.com
(FMC)