|FMC Corporation Announces Exclusive Global Development and Supply Agreements for Chr. Hansen Biological Products|
PHILADELPHIA, Aug. 23, 2011 /PRNewswire via COMTEX/ --
FMC Corporation (NYSE: FMC) announced today its Agricultural Products Group has entered into two exclusive agreements covering global development and supply of Chr. Hansen biological products for agricultural and ornamental markets. FMC will begin commercialization this year of Chr. Hansen's Nemix bacillus product in Brazil and start development for new biological standalone and combination products in the Americas and key agricultural markets.
Under the agreements, FMC will access Chr. Hansen's large library of existing bacillus products to evaluate and develop other biological products for use in agriculture as nematicides and plant health promoters. Chr. Hansen will supply biological materials for products that FMC commercializes under the agreements. Terms of the agreements were not disclosed.
"The Chr. Hansen biological products are complementary to FMC's portfolio of crop protection products and offer additional solutions to growers in FMC's focus markets," said Milton Steele, president, FMC Agricultural Products Group. "This relationship opens exciting new opportunities for FMC's Agricultural Products Group and is clearly aligned with our growth strategy by expanding in adjacent spaces to chemical crop protection markets."
Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. All solutions are based on strong research and development competencies and significant technology investments. The company enjoys market leadership in all its divisions: Cultures & Enzymes, Health & Nutrition and Natural Colors Division. There are more than 2,300 dedicated employees in over 30 countries.
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. The company 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 2010 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