FMC ups Lat Am expansion plans
FMC wants to build a new pesticide facility in Brazil and expand its operations yet further than previously planned. It intends to add $35 million to its expansion plans, and diversify its portfolio from sugar cane to include more maize, soybean and fruit and vegetable products, Brazilian business newspaper DCI reports. The company reportedly says that it is reaching its production capacity in Brazil. The move is part of FMC’s plans to raise sales in Brazil to over $1,000 million by 2014. The company committed $10 million towards increasing its production capacity last year ( Agrow No 610, p 2). Other countries that FMC is targeting for new plants include Colombia and Mexico, new FMC group president Antonio Zem told the newspaper. The company recently formed a joint venture with Argentine company, Ruralco Soluciones ( Agrow No 622, p 3). Current agrochemical sales are estimated at around $600 million in Brazil, making it the country’s fourth largest supplier, the report adds.