Vendor News

FMC Corporation to acquire hydrocolloid ingredients business

FMC Corporation recently said that the company has entered into an agreement to acquire the hydrocolloids ingredients business of International Specialty Products (ISP).

The move will extend FMC's leadership in hydrocolloids and enhance service to global customers in food, pharmaceutical and specialty industries. ISP's hydrocolloid ingredients business had revenues of approximately $ 80 million in 2007. Under the agreement, FMC will acquire ISP's alginates and food blends business (other than ISP's germinal blending business based in Brazil), including ISP's Girvan, Scotland, manufacturing facility and employees associated with the business.

The companies expect to close the transaction following satisfaction of customary closing conditions. The newly acquired business will be integrated into FMC Specialty Chemicals Group's biopolymer division. Alginates are extracted from seaweed and are one of the most versatile biopolymers used in a wide range of food, pharmaceutical and specialty applications.