PHILADELPHIA, Jan. 30 /PRNewswire-FirstCall/ -- FMC Corporation (NYSE: FMC) announced today plans to realign FMC BioPolymer alginates manufacturing operations in Norway and the United Kingdom as the company continues integration of the International Specialty Products (ISP) alginates business acquired in August 2008. Under the plan, alginate extract production would be consolidated at Haugesund, Norway, and finished product blending would be conducted primarily at Girvan, Scotland. Plans will be finalized following a consultation period with employees and unions in Norway and Scotland.
The realignment plan follows a thorough assessment of FMC BioPolymer's combined alginate business and is consistent with the company's strategy to be a strong, reliable and globally competitive supplier of hydrocolloid ingredients to customers in the food, pharmaceutical and personal care industries.
"This plan aligns our alginate manufacturing with core FMC strengths in process technology, raw material access and blending," said Mike Smith, FMC BioPolymer division manager. "This will ensure we retain best-in-class capabilities and expertise in alginate extraction and blending, with the broadest seaweed sourcing and supply chain infrastructure to serve our customers."
Under the proposed plan, FMC expects to complete production and blending realignment by the end of 2009. This includes the shutdown of blending at FMC's Slippen, Norway, site and the transfer of extract production from Girvan to Haugesund. There will be no change in the current operation or ownership of the Iceland or Tasmania seaweed sourcing operations that FMC acquired from ISP, nor will other product lines acquired from ISP be affected.
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. The company employs approximately 5,000 people throughout the world and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
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 2007 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
