FMC plans to acquire Dupont's CPC unit.
Title: President, FMC Agricultural Solutions
Career: Int'l and domestic leadership positions with Rohm & Haas; Pres Asia Dow Advanced Materials, joined FMC in 2010 as VP/Global Operations.
AM: Please provide an overview of FMC.
MD: FMC Corporation was founded in 1883 as the Bean Spray Pump Co., named after John Bean who developed the first piston pump insecticide sprayer. Today FMC is a specialty company serving agricultural, industrial and consumer markets globally. We partner with and serve growers around the globe to solve their unique problems, anticipate changing needs and protect their crops from pests, weeds and disease.
When our transaction with DuPont closes, which is expected during the fourth quarter of this year, FMC will become the fifth largest crop protection company in the world, with full discovery and research capabilities.
AM: How did FMC get into agriculture ?
MD: Our commitment to the agricultural industry dates back to our founding in 1883. We entered the agricultural chemicals business in 1948 when we acquired Westvaco Chemical Corp., which manufactured products used to produce pesticides.
AM: What agricultural business and products will FMC acquire from DuPont?
MD: The transaction is expected to close during the fourth quarter of this year pending usual antitrust regulatory approvals in various countries. When it does, FMC will acquire an array of strong, recognized brands from DuPont's global portfolio of chewing pest insecticides and cereal broadleaf herbicides, as well as rights to a fungicide in Europe. We will also integrate DuPont's exceptional R&D capabilities and strong pipeline of 15 synthetic active ingredients currently in development, covering insecticides, herbicides and fungicides, and an extensive library of 1.8 million synthetic compounds.
Top brands and active ingredients FMC will acquire include:
* Insecticides: Chlorantraniliprole (known as Rynaxypyr), Indoxacarb, and Cyantraniliprole (known as Cyazypyr) and the associated products Benevia, Exirel, Verimark, Prevathon and Coragen insecticides.
* Herbicides: FMC's acquisition also includes most of DuPont's SU-class of herbicides (primarily targeting cereal applications) including those marketed as Harmony, Express, Finesse, Affinity herbicides, as well as DuPont's proprietary PrecisionPac technology.
AM: Why are you in the process of acquiring the unit?
MD: Our agricultural customers' needs are evolving, and to meet them we knew we needed to be able to provide a wider selection and have fuller technology capabilities--from early-stage discovery through formulation and commercialization. By taking this step we are sharpening our focus: FMC will transform into a tier-one agricultural technology leader, with the ultimate goal of being a pure-play chemical crop protection company. We will have a broader product portfolio, the ability to service more regions and a powerful full-discovery R&D innovation engine with a wide, global network of R&D and manufacturing facilities. This means more options to solve customer challenges in most every category and market.
AM: How have you changed your organization to integrate the business?
MD: We have established a global governance structure to lead and manage the integration of the DuPont assets into FMC. All of our plans focus on a seamless and successful integration.
AM: How many people will be involved?
MD: Approximately 2,000 DuPont crop protection employees worldwide are part of this transaction. With the acquisition of DuPont's world-class R&D capabilities, including 15 facilities around the world and 470 employees in R&D alone, FMC will become a full research-based tier one agricultural technology company, once the transaction closes.
AM: Anything else you would like the agricultural industry to know?
MD: Focusing on agricultural technology charts a clear course for FMC's future. It gives us the strength and flexibility we need to address customers' needs more effectively as the industry experiences significant change and consolidation.
After the transaction closes, FMC Ag Solutions will have a significantly enhanced agchem portfolio and an exciting pipeline of new active ingredients. We will expand our footprint and be able to offer new products and services in additional regions. FMC operations will be stronger on several fronts, including broader sales and marketing capabilities, a more robust supply chain and a widespread network of manufacturing and R&D facilities.
All of this will enable us to deliver new product choices and solutions to customers. It will improve our ability overall to meet the growing demand for safe, reliable and affordable crop protection and food security solutions in a way that is sustainable and respects the environment.
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|Title Annotation:||VIEW FROM THE TOP: FMC Corporation|
|Date:||Jul 1, 2017|
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