FMC Corporation and Marrone Bio Innovations Sign Development and Distribution Agreement for Regalia® Maxx Biofungicide in Latin America

Latin America - español

News provided by

Aug 31, 2011, 09:00 ET

PHILADELPHIA, Aug. 31, 2011 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today its Agricultural Products Group has signed an exclusive development and distribution agreement for Marrone Bio Innovations (MBI) Regalia® Maxx biofungicide in Latin America. Regalia Maxx is a biological product that protects plants by triggering their natural defense systems to combat several bacterial and fungal diseases.

"We believe Regalia Maxx is an outstanding biological product and are very excited about developing it for several of our growth markets in Latin America," said Antonio Zem, Latin America area director, FMC Agricultural Products Group. "Regalia Maxx has an important fit in integrated pest management (IPM) programs and potential applications for other crops that we look forward to developing with MBI."

Regalia Maxx has already received registration in Mexico where FMC tested the product with excellent results against powdery mildew and Botrytis gray mold/bunch rot in specialty crops. Sales are expected to begin in December of this year. FMC has also tested the product in Brazilian vegetable crops and plans to expand development to other South American territories. Under the agreement, FMC will also develop improved formulations and premix products in collaboration with MBI.

"Since Regalia was first approved in the U.S. in 2009, it has been rapidly adopted by growers seeking effective and safe options for protecting their crops," said MBI CEO Pam Marrone. "We are excited to work with market leader FMC to bring Regalia's clear advantages to growers in Latin America."

Regalia Maxx is an extract from the giant knotweed that acts on the plant's immune system to control diseases, increase yields, stimulate roots and increase seed germination. The product has a favorable toxicological profile and can be used for foliar or soil treatments.

Marrone Bio Innovations Inc. is a leading global provider of biopesticides for the agricultural and water treatment markets. Its effective and environmentally friendly natural agricultural products provide higher yields and quality while managing pesticide resistance and residues. Through its proprietary discovery and development platform and strategically in-licensed technologies, MBI has developed an extensive pipeline of advanced and early stage products addressing billion dollar markets. MBI is selling its award-winning Regalia® biofungicide in the U.S. and other countries, and will enter the water market in 2011 with Zequanox™ for controlling invasive aquatic mussels in fresh waterways. MBI currently has three dozen patents pending in the U.S. and globally.

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. The company 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 2010 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