FMC Corporation, a National Chicken Council allied leader member company, announced this week plans to separate into two independent public companies. The two companies, which will be “New FMC, ” composed of Agricultural Solutions and Health and Nutrition segments and “FMC Minerals,” which will consist of FMC’s current Minerals segment.
The company expects the separation, which remains subject to final board approval and other customary conditions, will take the form of a tax-free distribution of shares to existing FMC shareholders. FMC Corporation expects to complete the separation in early 2015, and each company is expected to be listed on the New York Stock Exchange.
“Our decision to separate into two independent companies is a natural progression of our strategy. We believe that creating two companies, each with its own publicly listed equity, will enable the management of each company to pursue its own strategy. This will give each company greater focus on the success factors that are most important to its business and allow the adoption of a capital structure that is appropriate to its business profile,” said Pierre Brondeau, FMC Corporation president, CEO, and chairman.
“New FMC” will be led by Pierre Brondeau. “FMC Mineral’s” leadership team will be led by a new CEO, who will be announced in the coming months.
