FMC Corporation Reaches Agreement to Sell Astaris Joint Venture
FMC Corporation and Solutia Inc. announced the companies have reached an agreement to sell their 50/50 specialty phosphates joint venture, Astaris LLC, to Israel Chemicals Ltd. (ICL). Under the terms of the agreement, ICL will purchase substantially all of the assets of Astaris for $255 million.
This transaction is subject to certain approvals, including regulatory clearances and the U.S. Bankruptcy Court overseeing Solutia's Chapter 11 case.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. The company employs approximately 5,000 people throughout the world and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
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