PHILADELPHIA, July 28, 2011 /PRNewswire/ -- FMC Corporation (NYSE:FMC) announced today its Agricultural Products Group has entered into a joint venture agreement to form a new Argentine agrochemical distribution company named Ruralco Soluciones SA. FMC's partners in Ruralco are well-established agrochemical dealers previously associated with Argentine distributor Agropecuaria del Litoral. An FMC subsidiary will own 50 percent of the joint venture company, which recently commenced commercial operations.
"Ruralco fits well with our Vision 2015 strategy to expand our reach in rapidly developing economies, and will allow FMC to accelerate its growth and market access in Argentina's $1.7 billion crop protection market, the second largest in Latin America," said Milton Steele, president, FMC Agricultural Products Group.
Ruralco will be based in Rosario, Santa Fe province, Argentina, with plans to expand geographically within Argentina. FMC will manage the financial operations of the joint venture. FMC products will also continue to be sold through the company's current distributors in Argentina.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. The company employs approximately 5,000 people throughout the world. The company operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
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 2010 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