01 May 2013 22:29 [Source: ICIS news]
HOUSTON (ICIS)--FMC Corporation could divest itself of its peroxygens business before 2013 comes to a close, the CEO of the US-based specialty chemical producer said on Wednesday.
“I would actually believe that a divestiture of this business or at least a contract signed with a buyer would be possible somewhere between the end of the third quarter and … the end of the fourth quarter,” he said.
FMC announced on Tuesday that it is looking to divest its peroxygens division, including select product lines and assets in its environmental solutions division.
The operations under evaluation for divestment are expected to generate $350m (€266m) in revenue for 2013, Brondeau said.
FMC’s peroxygens business is a supplier of hydrogen peroxide, persulphate products, peracetic acid and other specialty oxidants.
The possible divestiture is part of FMC’s Vision 2015 strategic plan, which seeks to align the company on three core platforms – agriculture, health and nutrition, and minerals, Brondeau said.
“Although peroxygens is a successful, profitable business and has been an important part of FMC for many years, we no longer view it as a strategic fit given the evolution of our portfolio and our increased focus on the three core platforms,” the CEO said during Wednesday’s conference call.
FMC produces agricultural products and specialty and industrial chemicals.
($1 = €0.76)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections