PHILADELPHIA, July 28 /PRNewswire-FirstCall/ -- FMC Corporation
(NYSE: FMC) announced today that it has entered into an agreement to acquire
CoLiving Food Ingredients based in Guangzhou, China. The acquisition will
enhance FMC's leadership position in supplying specialty hydrocolloid products
and services to the rapidly growing food ingredient market in China. The
companies expect the transaction to close within four to six weeks following
approval from Chinese regulatory authorities.
CoLiving will be integrated into FMC Specialty Chemical Group's BioPolymer
Division, which recently opened a new technology and commercial center in
Shanghai, China. As a result of the acquisition, FMC will add specialty
blending capabilities and an application laboratory in Guangzhou, China.
'We are excited to broaden our customer reach and strengthen our ability
to offer innovative solutions to the Chinese dairy market through the CoLiving
acquisition,' said Mike Smith, general manager, FMC BioPolymer. 'This
acquisition is an excellent complement to further accelerate the strong growth
BioPolymer has realized supplying specialty stabilizers to Chinese dairy
companies as well as improve service and supply chain efficiencies to the
Chinese food ingredient market.'
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 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
