FMC Completes Acquisition of Cheminova
FMC Corporation has completed its $1.8 billion acquisition of Cheminova A/S, a multinational crop protection company based in Denmark.
The companies announced the signing of a definitive acquisition agreement on September 8, 2014, and have now satisfied all necessary conditions and regulatory approvals.
“The acquisition of Cheminova is fully aligned with our corporate strategy to focus FMC’s portfolio on agriculture, health and nutrition end markets,” said Pierre Brondeau, FMC president, CEO and chairman. “Cheminova has a highly complementary product portfolio and geographic footprint and follows a similar strategic approach to FMC in applying technology to deliver solutions to its customers. This transaction will broaden our Agricultural Solutions portfolio and significantly strengthen our market access.”
According to Brondeau, the Cheminova acquisition brings greater balance to FMC’s agricultural business. FMC will now have direct market access to key countries in Europe and enhanced customer reach in India, Australia and throughout Latin America. Technologies involved in the agreement will help enhance FMC’s position in existing crops, accelerate access to additional crops, and strengthen the company’s product base, especially in sugarcane, soybeans and cotton.
Source – FMC Corporation