) has inked a research and development deal with Quimica
Agronomica de Mexico to jointly develop new biological fungicides
and insecticides for use globally.
Quimica Agronomica is a Mexican microbiology company which
develops products that fight bacterial problems in crops. The
financial terms of the deal were not disclosed.
The collaboration represents a part of FMC Corp.'s efforts to
offer its customers biological products which address their
changing needs. The deal will help the company in expanding its
crop protection portfolio.
FMC Corp. is a leading 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.
The company, in Oct 2012, inked an R&D deal with Italian
chemical company, Isagro S.p.A., to jointly develop broad
spectrum fungicide. The new product will be used for crop
protection against diseases.
FMC Corp.'s third-quarter 2012 adjusted earnings (excluding
one-time items) came in at 79 cents per share, beating the Zacks
Consensus Estimate by a penny and exceeding the year-ago earnings
of 69 cents. Sales rose 5% year over year to $902.4 million in
the quarter on strength in the agricultural products business.
But it missed the Zacks Consensus Estimate of $929 million.
For the fourth quarter, FMC Corp. expects adjusted earnings to
be in the range of 75 cents to 85 cents per share. The company
will report its fourth quarter results on Feb 6.
FMC Corp. currently retains a short-term Zacks Rank #2 (Buy).
Other companies in the chemical industry worth considering are
). While both Arkema and BASF retain a Zacks Rank #1 (Strong
Buy), Air Products holds a Zacks Rank #2 (Buy).
AIR PRODS & CHE (APD): Free Stock Analysis
(ARKAY): ETF Research Reports
BASF SE (BASFY): Free Stock Analysis Report
FMC CORP (FMC): Free Stock Analysis Report
To read this article on Zacks.com click here.