FMC Corporation, owner of omega 3 fish oils leader EPAX, will split into two publically traded companies, the corporation announced recently. The plan is to split the agricultural and nutrition segments off from the company’s industrial minerals divisions.
The first company, dubbed “New FMC,” will consist of the Agricultural Solutions and Health and Nutrition segments. This will include EPAX, which FMC acquired for $345 million in June of 2013 .
In addition to EPAX’s omega-3s expertise, the new company will also have considerable expertise in marine-sourced ingredients such as carrageenan and Portasea Focoidan brown seaweed extract. Also in the new company’s portfolio will be MaQBerry antioxidants from maquiberries, Nutraesterol unesterified phytosterols and Nutricol HN glucomannan (soluble dietary fiber).
The acquisition of EPAX was part of the company’s long term strategy to get stronger in human nutriiton. The latest corporate resturction further executes on the strategy, dubbed Vision 2015.
“Our decision to separate into two independent companies is a natural progression of our strategy. We believe that creating two companies, each with its own publicly-listed equity, will enable the management of each company to pursue its own strategy,” said CEO Pierre Brondeau.
The scond company, called “FMC Minerals” will consist of the company’s current industrial minerals segment. Both new companies are expected to be listed on the New York Stock Exchange.