FMC Corporation and Environmental Science U.S. LLC (Envu) announced the successful completion of the sale of FMC's Global Specialty Solutions (GSS) business to Envu. This transaction follows the definitive acquisition agreement signed on July 11, 2024, and the satisfaction of all necessary conditions and regulatory approvals. The divestiture includes products for non-crop markets such as golf courses, professional sports stadiums, and pest control.
The sale is a key step in FMC's strategic plan to focus solely on innovating products and services for the global crop protection market. FMC will continue to collaborate with Envu through a transition period, remaining a contracted supplier of key products and actives. This ensures a smooth transition for customers and employees while providing Envu with continued access to innovation.
FMC intends to allocate all proceeds from the sale to debt reduction. This strategic move is expected to sharpen FMC's focus on its core agricultural business and improve its financial structure.
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