FMC Corp. announced it has taken full ownership of the joint-venture operations of FMC (Suzhou) Crop Care Co., Ltd. (FMS) in China.
FMS was established in 1994 as a 60/40 joint venture between FMC and Jiangsu Suhua Group Co., Ltd. (JSGC).
“This marks an important step in the execution of our strategy for FMC in China and the new direction that we are taking the business,” said Tracy Wu, general manager, FMC Agricultural Solutions China, and president, FMC China. “We are making significant investments in a robust product portfolio including new synthetic active ingredients and plant health products for the agricultural industry that we will be introducing across China over the next several years.”
FMC now fully owns all FMS assets including the Suzhou formulation facility, property in the Suzhou Industrial Park and important patents, trademarks and licenses for its current product line of nearly 50 products. FMC will direct all sales, marketing and manufacturing operations.
“China is very important to our Asia business as evidenced by our continued investment in the country,” said Bethwyn Todd, president, FMC Asia. “The long-term growth prospects for FMC in China look very promising.”
JSGC will continue to work closely with FMC as a tolling partner for active ingredients and other services.
“JSGC has been instrumental in our success in China helping us establish the FMC business through sound operations and steady growth,” said Wu. “We have created a very strong partnership that will continue into the future.”