FMC sells soda ash business to Tronox for $1.64bn

• Autores: Siobhan Lismore-Scott
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 570, 2015 (Ejemplar dedicado a: Marzo)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Alkali Chemicals' revenues were around $800m for Q4 2014, boosted by higher soda ash pricing. However, FMC remained determined to sell its soda ash arm, arguing that, following its acquisition of the Danish pesticide producer Cheminova in September, it was no longer a strategic fit for FMC and sat far better within Tronox's portfolio.

    "This is a natural fit for Alkali Chemicals, which will thrive as a new, strategic business at Tronox. This transaction allows FMC to maintain a strong balance sheet as our company focuses on global agriculture, health and nutrition with a portfolio that concentrates on high-growth markets," said Pierre Brondeau, CEO of FMC.

    FMC has been working in the energy storage field - classified as electronics, EVs and grid storage - for many years and was the first supplier to Sony Corp. in 1991. Selected FMC patents have been licenced or sold further down the value chain, [Tom Schneberger] confirmed to IM, adding that, "of our current lithium sales, nearly 30% are going into energy storage applications".