PHILADELPHIA, July 24, 2012 /PRNewswire/ -- FMC Corporation (NYSE:FMC) today announced the company will invest more than $100 million in a new world class microcrystalline cellulose (MCC) manufacturing facility in Rayong, Thailand. The new plant will ensure the company's long-term ability to supply the growing Asia market with its industry leading Avicel ® colloidal MCC.
"Today's announcement represents another major step in FMC's Vision 2015 growth strategy," said Pierre Brondeau, FMC president, CEO, and chairman. "This significant investment underscores FMC's continuing commitment to profitably grow our signature product lines, and to introduce or broaden the availability of leading FMC technologies in rapidly growing regions."
The new facility, expected to come on line in the fourth quarter 2014, will increase FMC's global food grade MCC capacity by 35 percent. The Thailand facility will initially manufacture Avicel ® colloidal MCC, which is widely used as key ingredient in food and beverages. However, the facility's design will allow for future volume expansion, and the manufacture of different product lines for both the food and pharmaceutical markets, as demand warrants."Demand for MCC continues to grow rapidly in Asia," said Michael Wilson, president of FMC's Specialty Chemicals Group. "This addition of significant new capacity to our MCC network will be needed to supply high-quality products and service to our Asian customers, while at the same time providing us with greater flexibility to support global growth with our existing capacity in North America and Europe." FMC BioPolymer, a business division of FMC Corporation, manufactures food and pharmaceutical grade MCC at manufacturing plants in Cork, Ireland, and in the United States in Newark, Delaware. 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 5,000 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. 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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV