) has filed a litigation against Summit Agro LLC and Summit North
American Holdings Corporation in United States District Court in
Wilmington, Del., charging them for violating an FMC
The litigation was filed against Summit for breaching FMC
Corp.'s patent covering sulfentrazone herbicide production that
are marketed in the U.S. under the Spartan and Authority brands,
and also for its involvement in unfair competition. FMC Corp.
seeks injunctive and monetary compensation from Summit for these
FMC Corp. is set to protect its intellectual property rights
as it has invested significantly in developing sulfentrazone and
related production technology as well as positioning Spartan and
Authority as strong brands in the minds of the customers.
FMC Corp. is a major diversified chemical company that serves
agricultural, industrial, environmental and consumer markets
across the globe. It is a leading maker of lithium-based
materials for primary and rechargeable batteries used in laptops,
cellular phones and electric cars.
FMC Corp.'s adjusted earnings for third-quarter 2013, reported
on Oct 28, 2013, missed the Zacks Consensus Estimate. Profit slid
80% year over year due to hefty charges. Though revenues rose at
a double-digit clip year over year on strength in the company's
core Agricultural Solutions segment, it missed expectations.
The company is well placed to meet or exceed its targets for
"Vision 2015, a road map for future''. Recent acquisitions and
development agreements are strengthening its agricultural
business. The company expects to deliver 13% revenue growth and
12% earnings per share growth in 2013, and anticipates business
fundamentals to improve in 2014.
Moreover, expanding portfolio and the new Thailand facility
(expected to come on stream in end-2014) are expected to drive
earnings in the company's health and nutrition franchise. FMC
Corp. is progressing with the construction of the Thailand
facility, which will support the growing functional ingredients
market in Asia.
However, FMC Corp. is exposed to significant currency
headwind. It is also seeing increasing costs for certain raw
materials. The most significant cost pressure has been witnessed
for seaweed-based raw materials.
FMC Corp., which currently retains a Zacks Rank #3 (Hold),
will release its fourth-quarter 2013 results on Feb 5 after the
Other chemical companies with favorable Zacks Rank are
L'Air Liquide SA
Johnson Matthey plc
LyondellBasell Industries NV
). While both L'Air Liquide and Johnson Matthey hold a Zacks Rank
#1 (Strong Buy), LyondellBasell retains a Zacks Rank #2
AIR LIQUIDE-ADR (AIQUY): Get Free Report
FMC CORP (FMC): Free Stock Analysis Report
JOHNSON MATTHEY (JMPLY): Get Free Report
LYONDELLBASEL-A (LYB): Free Stock Analysis
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