FMC to acquire ISP hydrocolloids ingredients business
May 20, 2008
by FoodBusinessNews.net Staff
PHILADELPHIA — FMC Corp. entered into an agreement to acquire the hydrocolloids ingredients business of International Specialty Products. The acquisition will extend FMC’s role in hydrocolloids and enhance service to global customers in food, pharmaceutical and specialty industries.
The acquired business will be integrated into FMC Specialty Chemicals Group’s BioPolymer Division.
"The integrated business will enable FMC to offer customers a broader range of alginates and functional system blends and improve our geographic coverage in key markets," said Ted Butz, vice-president and general manager, FMC Specialty Chemicals Group. "This move will further strengthen our global cost competitiveness by increasing our capabilities to source raw materials, drive production efficiencies and deliver improved supply chain economics."
The agreement provides for FMC’s acquisition of ISP’s alginates and food blends business (with the exception of the Germinal blending business based in Brazil), including ISP’s manufacturing facility in Girvan, Scotland.
ISP’s hydrocolloid ingredients business had approximately $80 million in revenue in 2007, and the transaction is expected to close following normal closing conditions.