FMC forms Argentine jv Ruralco
FMC has formed a joint venture with agrochemical dealers in Argentina. An FMC subsidiary will own 50% of new agrochemical distribution company Ruralco Soluciones (Rosario). The partners are “well established agrochemical dealers previously associated with Argentine agricultural inputs distributor Agropecuaria del Litoral”, FMC notes. FMC will manage the company’s financial operations, while its own products will continue to be sold through its existing distributors. The US company’s agricultural products group president Milton Steele says the deal tallies with FMC’s plans. “Ruralco fits well with our Vision 2015 strategy to expand our reach in rapidly developing economies, and will allow FMC to accelerate its growth and market access in Argentina's $1.7 billion crop protection market, the second largest in Latin America,” he says. Vision 2015 rules out transformational acquisitions in favour of alliances among other goals ( Agrow No 604, p 5).