FMC Corporation Acquires Rights to Develop and Sell Patented Fungicide in Key Global Markets
PHILADELPHIA, Aug. 28, 2013 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today that it has entered into an agreement with Belchim Crop Protection granting an exclusive license to develop, register, manufacture and sell the patented fungicide valifenalate in mixtures in North America, Latin America and some select countries outside of the Americas.
"We are pleased to add another fungicide to our expanding suite of patented products now available around the world. With targeted acquisitions like this one, FMC continues to diversify its crop protection portfolio in a manner that delivers more value to growers," said Mark Douglas, president, FMC Agricultural Solutions.
Approved for use on high-value crops such as grapes, tomatoes and other vegetables, valifenalate is a dipeptide-class fungicide effective against various types of mildew. It is currently marketed mainly under the brand name Valis. FMC expects to offer valifenalate mixtures for immediate sale in Latin America followed by other regions soon after.
Financial terms of the agreement were not disclosed.
FMC Corporation is a diversified chemical company serving agricultural, industrial, environmental, and consumer markets globally for more than a century with innovative solutions, applications and quality products. In 2012, FMC had annual sales of approximately $3.7 billion. The company employs approximately 5,700 people throughout the world, and operates its businesses in four segments: FMC Agricultural Solutions, FMC Health and Nutrition, FMC Minerals, and FMC Peroxygens. For more information, visit www.FMC.com.
SOURCE FMC Corporation