FMC Signs Agreements for Exclusive Access to New Insecticide and Research Collaboration
PHILADELPHIA, February 21, 2012 – FMC Corporation (NYSE:FMC) announced today it has entered into exclusive technology license and commercialization agreements with East China University of Science and Technology (ECUST) and Shanghai Shengnong Pesticide Co. Ltd. (SSPC). The three parties will develop and commercialize a new insecticide active ingredient. It was invented at ECUST and licensed by manufacturer SSPC. FMC will have exclusive global development and commercialization rights outside of China. The agreement also provides for additional new pesticide research collaboration.
“We’re excited to partner with the leaders at ECUST and SSPC to develop promising new solutions to farmers seeking alternatives to existing pest-resistant chemistries,” said Milton Steele, president, FMC Agricultural Products Group. “Combining the research strength of ECUST, the China manufacturing leadership of SSPC, and FMC’s deep product development and marketing expertise is an incredibly strong formula for success.”