FMC Announces New Innovation-Focused Strategy for India Market
MUMBAI, India, July 3, 2018 /PRNewswire/ -- FMC Corporation today announced that its Agricultural Solutions business in India will adopt an innovation-focused product strategy that uses a unique market access model anchored by FMC's Super Distributors.
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The new model is a result of a strategic analysis of the company's India business following FMC's acquisition of a significant portion of DuPont Crop Protection products in November 2017. The company will offer new, differentiated FMC products that address key insect, weed and disease control challenges facing Indian farmers.
FMC will exit the vast majority of its non-core crop protection portfolio in India. The company also is in the process of divesting its Furadan® insecticide product range and certain other products in the Indian market in accordance with the Competition Commission of India's order related to FMC's crop protection transaction with DuPont in 2017.
"India is one of the fastest-growing and most dynamic agchem markets in the world, and presents considerable growth opportunities for differentiated, value-enhancing solutions," said Pramod Thota, president of FMC India and Agricultural Solutions business director. "We are charting a clear course to fully optimize our new and existing technology assets, people and operational capabilities to deliver the most innovative products efficiently and effectively to our customers. Over the next five years, FMC expects to support Indian growers with the introduction of more than 10 new, differentiated crop protection and crop nutrition products."
FMC's Global Specialty Solutions (non-crop) and Plant Health businesses will continue to operate as usual in India. The new model does not impact or change FMC's manufacturing capabilities or footprint in India.
About FMC
For more than a century, FMC Corporation has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. On November 1, 2017, FMC acquired a significant portion of DuPont's Crop Protection business. FMC employs approximately 7,000 people throughout the world and operates its businesses in two segments: FMC Agricultural Solutions and FMC Lithium. For more information, visit www.FMC.com.
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 2017 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.
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