FMC Corporation

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FMC Corporation

logo
legal form Corporation
ISIN US3024913036
founding 1883
Seat Philadelphia , United States
management Pierre Brondeau ( President , CEO and COB )
Number of employees 7,300
sales 4,728,000,000 USD
Branch Chemical industry
Website www.fmc.com
As of December 31, 2018

The FMC Corporation is a US-based chemical company headquartered in Philadelphia , Pennsylvania . The name originally stood for Food Machinery Corporation.

history

The company's history begins in 1883 when John Bean founded the Bean Spray Pump Company to market a reciprocating pump that he had invented for spraying insecticides . In 1928 the company was listed on the San Francisco Stock Exchange under the name John Bean Manufacturing Company. The takeover of Anderson-Barngrover Co. and Sprague-Sells in the same year made the company the world's largest manufacturer of machines for the food industry at the time, so the name was changed to Food Machinery Corporation . In 1943, the company took over the crop protection product manufacturer Niagara Sprayer & Chemical Co. and thus entered the chemical industry. The division is founded in 1948 through the takeover of Westvaco Chemical Corp. considerably expanded. The name is then changed to Food Machinery and Chemical Corporation , and finally to FMC Corporation in 1961 . In 1972 FMC parted with the unprofitable pump business. In 1985, FMC opened up with the takeover of Lithium Corp. of America, the world's largest producer of lithium at the time , opened a new business area. In 2000, the management decided to split the company, the chemical activities continued to operate under the name FMC Corporation, while the mechanical engineering was named FMC Technologies .

FMC was at times one of the largest arms companies in the United States. This activity resulted from the advancement of tracked vehicles for agriculture to military vehicles, starting with the Landing Vehicle Tracked . Other vehicles were u. a. the Amphibious Assault Vehicle , the AIFV , the M113 and the M2 / M3 Bradley . In 1994, FMC and Harsco merged their armaments activities, creating United Defense , in which FMC held 60%. In 1997, both companies sold their shares to the Carlyle Group . United Defense has owned BAE Systems since 2005 . In 2017, the Food and Nutrition division was sold to DuPont , while parts of the seeds business were acquired from DuPont.

activities

Sales by business area

FMC Corporation today consists of two divisions:

Agricultural Solutions

The largest division, FMC Agricultural Solutions, produces and sells herbicides , insecticides , acaricides and fungicides . With 2012 sales of $ 1.764 billion, it is the largest segment of FMC Corporation.

lithium

The Lithium division deals with battery technology , construction chemicals and polymers .

Carbofuran abuse in East Africa

In 2009, CBS reported that furadan, a carbofuran compound from FMC Corporation, was used by farmers in Kenya to poison lions . The FMC Corporation then took the product off the market in Kenya, Tanzania and Uganda and bought up all remaining quantities.

share

FMC Corporation has been listed on the stock exchange since 1928. Originally listed in San Francisco, the stock is now traded on the New York Stock Exchange under the ticker symbol FMC . In the 1980s, FMC was involved in the insider trading scandal involving Ivan F. Boesky , who bought 95,300 FMC shares within a few days and sold them again after a few days for a profit of USD 975,000 after FMC announced that it was restructuring its equity.

See also

Web links

Individual evidence

  1. ↑ Management team
  2. ↑ a b c FMC 2018 Form 10-K Report , accessed April 22, 2019
  3. ↑ Historical overview of the FMC
  4. ↑ Historical overview United Defense on the BAE Systems website ( Memento from March 8, 2012 in the Internet Archive )
  5. ↑ DuPont to acquire FMC's health and nutrition business in billion dollar food-crop swap , at www.foodnavigator.com , accessed April 22, 2019
  6. ↑ FMC Agricultural Products website
  7. ↑ Annual report 2012 (PDF; 4.5 MB)
  8. ↑ Poison Takes Toll On Africa's Lions - Kenyan Cattle Herders Are Using The American Pesticide Furadan To Kill The Predators . In: cbsnews.com, July 26, 2009. (Retrieved April 20, 2011)
  9. ↑ Statement of the FMC Corporation (Retrieved April 20, 2011)
  10. ^ FMC Corporation Investor Relations Homepage
  11. ↑ "Insider Trading - The Market's Albatross" (PDF; 515 kB)
  12. ↑ Greed is a good religion . In: Der Spiegel June 13, 1988. (Retrieved April 20, 2011)