Announces strategic review of non-core assets including potential sale of FMC’s non-crop product line, Global Specialty Solutions
FMC Corporation hosted its Investor Day at FMC corporate headquarters in Philadelphia where the company introduced its new strategic growth plan, reviewed three-year financial goals and longer-term financial aspirations through 2033, and provided its preliminary outlook for 2024. The company also outlined cost savings targets and key elements that will drive sustained profitable growth.
FMC’s strategic plan is anchored in three core ambitions: to strengthen the company’s relationship with growers, ensuring they receive sound, accurate and timely guidance about the right products and technologies that best address their needs; deliver superior growth and returns; and to maintain the company’s leadership in safety, sustainability and innovation. Actions and specific plans that drive each ambition are summarised in eight strategic imperatives.
Mark Douglas, president and chief executive officer said, “These range from strengthening our relationship with growers to ensure they have the best guidance on using the right technologies that address their needs, growing our leading Plant Health business, accelerating the discovery and commercialisation of our R&D pipeline, and increasing operating leverage that leads to a leaner organization. Executing these initiatives will provide more valuable tools to growers to protect their crops while FMC achieves growth on the top and bottom line.”
Development and commercial launch of new products was a significant Investor Day theme, with Diane Allemang, executive vice president and chief marketing officer, presenting new patented formulations and mixtures of existing molecules, including FMC’s industry-leading diamides, as key drivers of revenue growth. Dr Seva Rostovstev, vice president and chief technology officer, provided details on the R&D pipeline including four new active synthetic ingredients that are expected to provide approximately $2 billion of revenue by 2033. New products and innovation were also key themes presented by the vice president and global Plant Health business director Dr Bénédicte Flambard, who outlined the company’s plan to grow FMC’s biologicals platform to approximately $2 billion in revenue by 2033. Ronaldo Pereira, executive vice president and president of Americas, discussed how strengthening FMC’s relationship as a trusted advisor to growers will help support the new product introductions in the years to come. Vice President of Procurement, Logistics and Global Facilities, Thaisa Hugenneyer reviewed how a resilient, agile, cost-efficient supply chain will support existing as well as new products throughout the strategic plan timeframe.
