PHILADELPHIA, July 8, 2013 /PRNewswire/ -- FMC Corporation (NYSE: FMC) today announced that it has acquired exclusive rights to a patented, broad-spectrum crop protection product from Bayer CropScience. FMC will develop and distribute the novel product for row crops in the United States and Canada.
"This agreement to develop and market this promising new product highlights the increasing collaboration between FMC and Bayer CropScience and the success both companies have created in bringing new crop protection technologies to growers," said Mark Douglas, president, FMC Agricultural Solutions.
FMC will start product development and the registration process next year and expects to launch the product in the following two to three years. Financial terms were not disclosed.
About FMC Corporation
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.
About Bayer CropScience
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech materials. This year the company looks back on 150 years of working to fulfill its mission "Bayer: Science For A Better Life". Bayer CropScience, the subgroup of Bayer AG responsible for the agricultural business, has annual sales of EUR 8,383 million (2012) and is one of the world's leading innovative crop science companies in the areas of seeds, crop protection and non-agricultural pest control. The company offers an outstanding range of products including high valve seeds, innovative crop protection solutions based on chemical and biological modes of action as well as an extensive service backup for modern, sustainable agriculture. In the area of non-agricultural applications, Bayer CropScience has a broad portfolio of products and services to control pests from home and garden to forestry applications. The company has a global workforce of 20,800 and is represented in more than 120 countries. This and further news is available at: www.press.bayercropscience.com.
Forward-Looking Statement – FMC Corporation
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 2012 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.
Forward-Looking Statements – Bayer CropScience
This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
SOURCE FMC Corporation