FMC Corporation Signs Research and Development Collaboration Agreement for New Proprietary Fungicide from Isagro
PHILADELPHIA, Sept. 24, 2012 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today it has entered into a research and development collaboration agreement for a new proprietary fungicide from Isagro S.p.A. The two companies will co-develop the new broad spectrum fungicide for use globally.
"We are excited by the prospects for this new carboximide-class fungicide and the expansion of our fungicide portfolio," said Mark Douglas, president, FMC Agricultural Products. "FMC's innovation and collaboration initiatives have delivered impressive crop protection technologies. We are pleased to continue our partnership with Isagro, a highly respected company committed to the discovery of highly effective, proprietary agricultural chemicals."
"FMC represents an ideal partner because of its large and qualified experience in development of new molecules and for its global presence in key markets," said Giorgio Basile, Isagro president and chief executive officer. "We look forward to a productive and successful partnership for this new product."
Terms of the agreement 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 2011, FMC had annual sales of approximately $3.4 billion. The company employs approximately 5,500 people throughout the world, and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more information, visit www.FMC.com.
Isagro is an Italian chemical company that has become, in 20 years, a qualified player in the field of agrochemicals. Listed on the Italian Stock Exchange since 2003, Isagro operates along the entire value chain from the research and development of new proprietary molecules to the production, marketing and local distribution, in some key markets, of crop protection products.
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 2011 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