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FMC announces group reorganization

US group FMC Corporation has announced a strategic restructuring of activities through the division of its chemicals and machinery operations.
“We believe this action should allow all our businesses …

US group FMC Corporation has announced a strategic restructuring of activities through the division of its chemicals and machinery operations. “We believe this action should allow all our businesses to take a more focused, entrepreneurial approach to growing their individual markets and serving their customers more effectively in a marketplace that values speed, customer focus, innovation and, above all, growth. The net result should be increased earnings power,” said FMC Chairman and CEO Robert N. Burt. FMC said it is planning an initial public offering of up to 20% of the machinery business by the second quarter of 2001. FMC plans to use proceeds from the offering to reduce debt. Under the plan, the chemicals business will continue to operate under the current FMC corporate structure and will ultimately be headquartered in Philadelphia, Pennsylvania, US.

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