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TheStreet Open House

FMC's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stock quotes in this article: FMC

A reminder that our discussion today will include statements that are forward-looking and subject to various risks and uncertainties concerning specific factors summarized in FMC's 2010 Form 10-K, our most recent Form 10-Q and other SEC filings. This information represents our best judgment based on today's information. Actual results may vary based on these risks and uncertainties.

Our current 2011 outlook statement, which provides our guidance for both the full year and the fourth quarter of 2011, was posted this morning on our website available at fmc.com. Also on our website, you will find the definition of certain non-GAAP financial terms that we'll refer to during today's conference call under the heading entitled, Glossary of Financial Terms, as well as a reconciliation to GAAP of those non-GAAP figures we will use today.

It's now my pleasure to turn the call over to Pierre Brondeau. Pierre?

Pierre R. Brondeau

Thank you, Brennen, and good morning, everyone. As you saw in our earnings release, we delivered another quarter of strong performance. We saw healthy demand across our businesses and diverse end markets, especially in rapidly developing economies. We see rich opportunities for organic growth and made good progress advancing our external growth initiatives.

Consistent with our Vision 2015 objectives, we are making focused investments that will raise our growth trajectory. In Agricultural Products, we established a joint venture in Argentina, Ruralco Soluciones, to directly access the country's large and growing agrochemical market. We also formed collaborations with Chr. Hansen and Marrone Bio Innovations in agricultural biologicals. In BioPolymer, we announced an agreement to acquire BioGroup, the leading natural colors and specialty nutrition ingredients producer to broaden our portfolio in food ingredients and pharmaceuticals. In Peroxygens, we completed the purchase of the persulfates business of RheinPerChemie to accelerate our shift to high-margin specialties. In soda ash, we formed Natronx Technologies in partnership with Church & Dwight and TATA Chemicals to manufacture and market sodium-based dry sorbents for air pollution control in electric utility and industrial boiler operations.

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