PHILADELPHIA, Aug. 10, 2015 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today that it is changing its strategy for pectin, shifting focus from the manufacture of standard grade pectin to concentrate on higher-value, more specialized solutions for its customers. As part of this strategy, FMC will sell its pectin manufacturing facility, located in Milazzo, Italy, to Cargill, Inc.
FMC will continue to offer pectin as one of many naturally-derived products it provides to industry-leading customers it serves.
"We are re-allocating our resources away from the manufacture of standard grade pectin to concentrate on developing the very best solutions that meet our customers' needs," said Eric Norris, vice president, global business director, FMC Health and Nutrition. "For more than 75 years, FMC has helped solve its customers' most pressing food and beverage challenges. Pectin remains an important product line in our broad portfolio of ingredients, including microcrystalline cellulose, alginates, carrageenan and natural colors."
FMC and Cargill have agreed on commercial terms of a supply agreement, which, when signed, will provide FMC with more efficient and flexible sourcing on a broad range of both standard and specialty pectin grades.
"Our resources and people are better spent on partnering with customers and innovating the very best solutions. We are pleased to have found a buyer who we believe will continue to invest in the Milazzo production site, its employees and the community," Norris said.
About FMC Health and Nutrition
FMC Health and Nutrition is a global business segment of FMC Corporation. With many decades of experience in the health and nutrition industry, FMC has a deep understanding of the complexity of product formulation and a proven portfolio of naturally derived ingredients and formulas. With our broad portfolio and superior technical expertise, we work side-by-side with customers in the nutrition, pharmaceutical and nutraceutical markets to deliver customized solutions that meet their unique needs and challenges while upholding the highest standards of safety, purity, efficacy and value.
About FMC Corporation
FMC Corporation is a specialty company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. FMC acquired Cheminova in April of 2015. Pro forma revenue totaled approximately $4.5 billion in 2014. FMC employs approximately 7,000 people throughout the world and operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition and FMC Lithium. For more information, visit www.FMC.com.
SOURCE FMC Corporation