FMC Corporation Signs Research and Development Collaboration Agreement for New Proprietary Biological Fungicides and Insecticides with Quimica Agronomica de Mexico

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Jan 24, 2013, 04:30 ET

PHILADELPHIA, Jan. 24, 2013 /PRNewswire/ -- FMC Corporation (NYSE: FMC) announced today its Agricultural Products Group has entered into a research and development collaboration agreement for several proprietary biological pesticides from Quimica Agronomica de Mexico. The two companies will co-develop the new fungicides and insecticides for use globally.

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"This transaction marks another step forward in our effort to offer customers biological products that meet their changing needs," said Mark Douglas, president, FMC Agricultural Products. "FMC's innovation and collaboration initiatives have delivered impressive technologies over the years and we are pleased to add Quimica Agronomica de Mexico to our roster of key partners. The prospect of expanding our already strong crop protection portfolio is exciting."

"FMC is an excellent partner because of its experience developing new molecules and for its access to important and growing global markets," said Miguel Alvarado, general director, Quimica Agronomica de Mexico. "We look forward to a productive and successful partnership."

Terms of the agreement were not disclosed.

About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, industrial, environmental and consumer markets globally for more than a century with innovative solutions, applications and quality products. In 2011, FMC had annual sales of approximately $3.4 billion. The company employs approximately 5,500 people throughout the world, and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more information, visit www.FMC.com.

About Quimica Agronomica de Mexico
Quimica Agronomica de Mexico (QAM), a Mexican company, is dedicated to innovation in microbiology, creating products that fight bacterial problems in crops. For more information, visit www.qam.com.mx

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 2011 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