FMC completes acquisition Cheminova approx $1.8 billion

FMC completes acquisition of Cheminova for approx $1.8 billion

10:41 AM, 21st April 2015
FMC completes acquisition of Cheminova for approx $1.8 billion

PENNSYLVANIA, US: FMC Corporation said it has completed acquisition of the Denmark-based, multinational crop protection company, Cheminova A/S. The wholly-owned subsidiary of Auriga Industries A/S was purchased for a price of approximately $1.8 billion, including assumption of debt, FMC said.

FMC expects the transaction to be accretive to adjusted earnings in the first full year following the acquisition. The companies announced the signing of a definitive acquisition agreement on 8 Sept, 2014.

FMC has been realigning its business portfolio in recent years to expand its position in the crop protection market. With the acquisition of Cheminova, and the divestiture of the alkali chemicals business completed on 1 April, 2015, FMC agricultural solutions is expected to represent approximately three quarters of the company’s total revenue, up from less than 40 percent as recently as 2009.

"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, president, CEO and chairman, FMC.

With Cheminova, FMC will get direct market access to key countries in Europe and enhance reach in India, Australia and throughout Latin America. Its technology will enable FMC to expand its position in crops such as cereals and strengthen offerings especially in sugarcane, soybeans and cotton,” added Brondeau.

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