FMC to acquire Cheminova

FMC has entered into an agreement to acquire Cheminova, a wholly owned subsidiary of the Denmark-based company Auriga Industries, for $1.8 billion. 

The global transaction is expected to be finalised in early 2015, subject to approval from shareholders and competition authorities.

“We are very excited about the opportunity to combine Cheminova with FMC Crop Protection,” said Peter Close, Country Head of FMC Australasia.

He said the integration of Cheminova would make FMC Crop Protection a stronger agricultural solutions business in a range of areas.

“The acquisition of Cheminova will strengthen and broaden our technology and product offerings to customers,” Mr Close said.

“It will give FMC Crop Protection a larger portfolio of fungicides and bring complementary technologies in insecticides and herbicides, as well as a growing micronutrient business.”

Cheminova has a base of more than 60 active ingredients, globally over 2,300 registrations and a pipeline of active ingredients currently under development.

“We expect these additional capabilities will increase the pace of new product launches in the coming seasons,” Mr Close said.

FMC Crop Protection and Cheminova will begin integration planning shortly.

“We look forward to creating an even stronger business that remains focused on delivering valuable solutions to our agricultural customers,” he said.

“In the meantime, we advise customers that it is business as usual, so any questions regarding Cheminova products and services should continue to be directed to your Cheminova representative.”