PHILADELPHIA, Feb. 2, 2015 /PRNewswire/ -- FMC Corporation (NYSE: FMC) today announced it has acquired all global rights to a novel, proprietary herbicide from Kumiai Chemical Industry Co., Ltd., and Ihara Chemical Industry Co., Ltd. The new herbicide is highly effective in controlling broadleaf weeds and will be initially developed for use in corn, cereals, soybeans and sugarcane in key countries around the world.
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"We are very pleased about the prospects of this new molecule given its potential across many crops, application flexibility and co-mixture opportunities," said Mark Douglas, president, FMC Agricultural Solutions. "This acquisition continues our strategic partnership with Kumiai and Ihara, two premier research companies that have developed a rich chemistry pipeline for new crop protection products that are critical for increased food production.
"FMC's global organization will develop the full potential of this new chemistry, part of a robust pipeline of six new active ingredients that includes other herbicides, insecticides and fungicides," said Douglas. "This core pipeline of new active ingredients is complemented by our development of biological crop protection products, seed treatment technologies and new formulations with strong sustainability profiles."
Kumiai and Ihara discovered the chemistry in their research laboratories and partnered with FMC during the last two years to evaluate and develop the commercial potential for this new active ingredient. FMC owns all intellectual property rights to the new molecule. Terms of the agreement were not disclosed.
About Kumiai Chemical Industry Co., Ltd.
Kumiai Chemical Industry Co., Ltd., began business when the agricultural chemical industry entered the modern era. Kumiai is proud that its corporate history parallels the agricultural chemical industry in Japan. Since formation in 1949, Kumiai has made significant contributions such as development of the first synthesized agricultural chemicals in Japan that have helped farmers realize bountiful harvests. For more information, visit www.Kumiai-chem.co.jp.
About Ihara Chemical Industry Co., Ltd.
Since establishment in 1965, Ihara Chemical Industry Co., Ltd. has played a major role in the fine chemicals industry, in areas such as agrochemicals, agrochemical / pharmaceutical intermediates, and curing agents for urethane polymers. Ihara is primarily engaged as a manufacturer of proprietary active ingredients for agrochemical products, as well as contract manufacturing for customers. For more information, visit www.iharachem.co.jp.
About FMC Corporation
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. In 2013, FMC had annual sales of approximately $3.9 billion. The company employs approximately 6,000 people throughout the world, and operates its businesses in three segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Minerals. 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 2013 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.
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SOURCE FMC Corporation
Media contact: Jim Fitzwater - +1.215.299.6633, james.fitzwater@fmc.com, Investor Relations contact: Alisha Bellezza - +1.215.299.6119, ir@fmc.com