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Chemical company FMC Corporation (FMC - Analyst Report) has completed the sale of its Peroxygens business to affiliates of J.P. Morgan Chase & Co’s (JPM - Analyst Report) private investment arm – One Equity Partners – for roughly $200 million. The deal was announced in Dec 2013.

Citigroup, Inc. (C - Analyst Report) served as financial advisor for FMC Corp. on the transaction while Macquarie Capital was the sole lead arranger on the financing for the deal.

The Peroxygens business focuses on hydrogen peroxide, specialty peroxygens and silicates used in markets such as environmental remediation and pulp and paper. Peroxygens, although a successful business, was not a strategic fit with FMC Corp.'s growth strategy. Results from the unit have been classified as discontinued operations starting third-quarter 2013.

The divestment allows FMC Corp. to direct its resources to core businesses – agricultural solutions, health and nutrition and minerals. The company, in April 2013, simplified its operational structure to focus on these three core areas where it expects to grow in the years ahead.

FMC Corp. is a major diversified chemical company that serves agricultural, industrial, environmental and consumer markets across the globe. It is a leading maker of lithium-based materials for primary and rechargeable batteries used in laptops, cellular phones and electric cars.

FMC Corp. is well placed to meet or exceed its targets for “Vision 2015, a road map for future. Recent acquisitions and development agreements are adding strength to its core agricultural business. FMC Corp. expects above-market rate growth for this business to continue in 2014.
FMC Corp. currently retains a Zacks Rank #3 (Hold).

Northern Technologies International Corp. , which also belongs to the chemical industry, holds a Zacks Rank #1 (Strong Buy).

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