FMC to buy I.S.P. hydrocolloids business
May 27, 2008
by Jeff Gelski
FMC Corp., Philadelphia, entered into an agreement to acquire the hydrocolloids ingredients business of International Specialty Products (I.S.P.), which has North American regional headquarters in Wayne, N.J. The acquisition will extend FMC’s role in hydrocolloids and 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 I.S.P.’s alginates and food blends business (with the exception of the Germinal blending business based in Brazil), including I.S.P.’s manufacturing facility in Girvan, Scotland. The I.S.P.’s hydrocolloid ingredients business had about $80 million in revenue in 2007.
For more information, visit www.fmc.com.
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