This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

FMC Corporation Signs Agreement To Acquire Pectine Italia

Stocks in this article: FMC

PHILADELPHIA, Aug. 1, 2012 /PRNewswire/ -- FMC Corporation (NYSE:FMC) announced today the company has entered into a definitive agreement to acquire the business assets of Pectine Italia S.p.A., a leading Italian-based manufacturer of pectin for the food ingredients market.  The acquisition marks FMC's entry into the pectin market, expanding the company's industry-leading portfolio of hydrocolloid texturants and stabilizers.

(Logo:  http://photos.prnewswire.com/prnh/20111101/NE97440LOGO

"This acquisition continues our strategic expansion into the high-growth, natural-based food ingredients market," said Michael Wilson, president, FMC Specialty Chemicals.  "With our recent acquisitions of two natural food colors businesses, our entry into pectin underscores our commitment to broaden FMC's portfolio of innovative food ingredients.  It also represents another important step in our Vision 2015 growth journey."

Pectine Italia produces pectin, a well known stabilizer and thickening agent used widely in many foods and derived predominately from lemon peels.  The company has production facilities in Milazzo, on the island of Sicily.  The acquisition provides FMC with high quality pectin manufacturing capabilities, strategically located near important raw materials sources.  The business will become a part of FMC BioPolymer, a business unit of FMC Corporation.

"Pectin has a very positive consumer image and unique functionality that has helped it grow globally in recent years," said Mike Smith, division manager, FMC BioPolymer.  "It is particularly well suited for low-pH applications and our technical teams already work regularly with pectin.  FMC BioPolymer's global resources, technical service and more than 65 years of product development, coupled with Pectine Italia's pectin processing knowledge, will allow us to grow a new platform as an industry-leading pectin supplier."

Terms of the transaction, which is expected to close in the third quarter, were not disclosed. 

FMC BioPolymer is one of the world's leading providers of naturally-derived alginate, carrageenan, Avicel ® microcrystalline cellulose and natural colors serving the worldwide food, pharmaceutical, personal care and specialty markets. 

About FMC CorporationFMC 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

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,369.13 +173.71 1.01%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,626.8690 +60.7310 1.33%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs