FMC Corporation has signed a definitive agreement to acquire Cheminova A/S, a wholly owned subsidiary of Auriga Industries A/S.
Cheminova is a multinational crop protection company based in Denmark. FMC will fund the all-cash acquisition through a mixture of debt and existing cash reserves.
“Cheminova’s direct market access in Europe, combined with its position in Latin America, will help bring greater balance to our business,” said said Pierre Brondeau, FMC Corporation president, CEO and chairman.
“Its technology will allow us to expand our position in existing crop segments and provide accelerated access to additional crops, such as cereals.”
“It will also strengthen our offerings to existing customers, especially in sugarcane, soybeans and cotton.”
Brondeau added that Cheminova brings complementary technologies in insecticides and herbicides, significantly enhances FMC’s fungicide portfolio and adds a growing micronutrient business.
“Cheminova has a portfolio of more than 60 active ingredients, over 2,300 registrations and a pipeline of active ingredients currently under development,” said Brondeau.
“It is the addition of this broad suite of technology that is particularly exciting to us, and we firmly expect to increase our pace of new product launches in the coming seasons as a direct result of adding Cheminova’s capabilities to ours.”
