FMC to expand hydrogen peroxide production in Texas using new technology.PHILADELPHIA--(BUSINESS WIRE)--Aug. 15, 1995--FMC Corp. Tuesday announced that it is expanding production of hydrogen peroxide hydrogen peroxide, chemical compound, H2O2, a colorless, syrupy liquid that is a strong oxidizing agent and, in water solution, a weak acid. It is miscible with cold water and is soluble in alcohol and ether. at its Bayport, Texas, plant using a new higher-efficiency technology. The $65 million investment will add 140 million pounds, raising FMC's total North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. annual peroxide peroxide (pərŏk`sīd), chemical compound containing two oxygen atoms, each of which is bonded to the other and to a radical or some element other than oxygen; e.g. capacity to 450 million pounds from 310 million pounds. FMC See fixed mobile convergence. believes that new capacity being added at Bayport is among the most capital-efficient in the industry. The new process technology has been under development for several years. Preliminary engineering for the project has been completed. The applications for environmental permitting were submitted in June, with approval to begin construction expected by year-end. The expanded capacity is expected to come on stream by year-end 1996. ``FMC's decision to expand hydrogen peroxide production at Bayport reflects our commitment to reliably serve our worldwide customers for this fast-growing chemical,'' said FMC Chairman and Chief Executive Officer Robert N. Burt. The company's new peroxide plant under construction at Delfzil, Holland, is slated for start-up in October of this year. Including the Delfzil plant and the Bayport expansion, FMC will have global hydrogen peroxide capacity of more than 700 million pounds, with plants in Europe, Japan, Thailand and North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. William J. Harvey, FMC Peroxygen Chemicals Division manager, ``FMC's current capacity in North America is operating at full utilization, and our customers are on order control. Demand growth, driven largely by the bleaching of mechanical pulp and the partial replacement of chlorine in kraft pulp, has averaged more than 15 percent per year during the past five years. ``Market growth is expected to average at least 10 percent per year for the foreseeable future. ``Despite increased demand, severely depressed prices Depressed price In the context of stocks, stock whose market price is low in comparison to stocks in its sector. have precluded investing in much-needed capacity. The improving pricing trend currently underway should ultimately make capital-efficient additions, such as the Bayport expansion, economically attractive,'' Harvey added. FMC Corp. is one of the world's leading producers of chemicals and machinery for industry, government and agriculture. The Chicago based company reports annual sales of $4 billion in 1994, with international sales to more than 100 countries accounting for 49 percent of total annual revenues. FMC employs 21,000 people at 97 manufacturing facilities and mines in 21 countries. The company divides its businesses into five major segments: Performance Chemicals, Industrial Chemicals, Machinery and Equipment, Defense Systems and Precious Metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. . CONTACT: FMC Corp., Chicago MEDIA CONTACT: Pat Brozowski, 312/861-6104 or INVESTOR CONTACT: Cheryl Francis, 312/861-6674 or PHILADELPHIA: Thomas E. Kline, 215/299-6888 |
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