IMC Global Inc., Chicago, and Cargill Inc., Minneapolis, agree to combine IMC Global Inc. and Cargill Crop Nutrition to create a new, publicly traded company.IMC (Internet Mail Consortium, Santa Cruz, CA, www.imc.org) An industry trade association founded in 1996 by Paul Hoffman and Dave Crocker that promotes Internet e-mail standards and features. Global Inc., Chicago, and Cargill Inc., Minneapolis, agree to combine IMC Global Inc. and Cargill Crop Nutrition to create a new, publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Fritz fritz n. Informal A condition in which something does not work properly: Our television is on the fritz. [Perhaps from German Fritz Corrigan, currently Cargill executive vice president, will leave Cargill to become the chief executive and president of the new company. A headquarters location and the other members of the new management team have not yet been determined. The new company will represent about 14.4 percent of global phosphate (phosphoric acid phosphoric acid, any one of three chemical compounds made up of phosphorus, oxygen, and hydrogen (see acids and bases). The most common, orthophosphoric acid, H3PO4, is usually simply called phosphoric acid. ) capacity, with annual processed phosphate production capacity of about 13 million short tons. |
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