Chemical company FMC Corporation (FMC - Free Report) has bought pectin-related intellectual property from Switzerland-based Vigido AG, a unit of UniPektin Ingredients AG. The terms of the acquisition were not disclosed.
The purchase of Vigido AG's pectin know-how and customer data boosts FMC Corp.'s pectin portfolio and enhances its expertise and capabilities in natural-based food ingredients. Vigido AG’s products, which were earlier marketed under the VIDOPECTINE moniker, will now be available from FMC BioPolymer, a unit of FMC Corp.
The addition of Vigido AG's know-how to the newly purchased pectin business offers FMC BioPolymer with increased ability to serve a broad range of low pH food applications and provides easier access to many customer applications for the pectin made in FMC BioPolymer’s pectin facility in Italy. In addition, it offers FMC BioPolymer a wider product line for providing customized food ingredient solutions.
FMC Corp. is a leading 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., in Feb 2013, reported its fourth-quarter 2012 results. Its adjusted earnings of 81 cents per share matched the Zacks Consensus Estimate. Reported profit jumped 31% year over year on a strong performance of the company’s core Agricultural Products segment. Revenues climbed 10% year over year to $1 billion and beat the Zacks Consensus Estimate of $993 million.
FMC Corp. currently retains a short-term Zacks Rank #3 (Hold).
Other companies in the chemical industry worth considering are Akzo Nobel NV (AKZOY - Free Report) , Axiall Corporation and Eastman Chemical (EMN - Free Report) . All of them hold a Zacks Rank #2 (Buy).