FMC announces strategic alliance and key acquisition
FMC Corporation announced that it has built a world-class platform to serve the fast-growing biological crop protection market through two strategic transactions. FMC has signed an exclusive and global collaboration agreement with Chr. Hansen, a leading biosciences company specializing in cultures, enzymes and fermentation, to develop and commercialize biological crop protection products. FMC also announced the acquisition of the Center for Agricultural and Environmental Biosolutions (CAEB), a division of North Carolina-based RTI International, specializing in sustainable agriculture research. Financial terms were not disclosed.
With these two transactions, FMC Agricultural Solutions has created an end-to-end biological platform that complements its traditional strengths in synthetic crop protection chemistries. “FMC is poised to become a leader in biological crop protection,” said Mark A. Douglas, president, FMC Agricultural Solutions. “We now have a world-class library of microorganisms, deep expertise in biological discovery, and an exclusive strategic alliance with one of the world’s foremost authorities on microbial research and fermentation. Combine these new elements with FMC’s global market access and historic strengths in formulation, product development, and market innovation and we have a powerful platform from which we can launch a range of new products.”
As farmers around the world fight resistance and work to maximize yields, FMC has successfully broadened its portfolio of crop protection products to deliver more value. Long known for proprietary insecticides and herbicides, FMC recently added several established and patented fungicides to its business. Now the company is building on its success in synthetic chemistries to offer a range of biological insecticides, herbicides and fungicides.
Global Strategic Alliance with Chr. Hansen
The new strategic alliance creates a powerful foundation for FMC and Chr. Hansen to compete in the multi-billion dollar biological crop protection market. Under the arrangement, Chr. Hansen will provide scouting, screening, scale up and fermentation manufacturing expertise while FMC will provide scouting, screening, formulation capabilities, product development and registration experience, and global market access. The two companies will develop new products, knowledge and biological expertise within the collaboration’s framework.
Commenting on the agreement, Douglas said, “No one knows microbiology and fermentation better than the team at Chr. Hansen. Their expertise in scouting, screening and scale-up production complements the work we do so well in formulation and bringing products to market. We look forward to working with Chr. Hansen to create a market-leading portfolio of biological solutions.”