FMC: 3Q 2008 profits soar

FMC has reported 3Q 2008 net profits up 116%, to USD 80 million, on sales up 31%, to USD 821 million. Sales in the specialty chemicals business of the company increased by 20%, to USD 198 million, dri…

FMC has reported 3Q 2008 net profits up 116%, to USD 80 million, on sales up 31%, to USD 821 million. Sales in the specialty chemicals business of the company increased by 20%, to USD 198 million, driven primarily by across-the-board volume growth and higher selling prices in certain products, FMC said. The industrial chemicals business recorded a 33% increase in sales, to USD 360 million, and sales for agricultural products were up by 37%, to USD 264 million. “Our record 3Q results were driven by strong sales growth across our businesses”, said William Walter, chairman, president and CEO. “Industrial chemicals realized exceptional growth largely as a result of higher selling prices in soda ash and phosphates”, says Mr. Walter. FMC says that for the 4Q 2008 it expects strong sales growth to continue across all segments.