PHILADELPHIA, July 26, 2018 /PRNewswire/ -- FMC Corporation (NYSE: FMC) today announced that it will rebrand its lithium materials business as Livent Corporation (pronounced lye-vent) following the previously announced plan to separate FMC Lithium into a publicly traded company.
"FMC has been a leading producer of lithium compounds for more than 40 years," said Paul Graves, chief executive officer, Livent Corporation. "As an independent company, Livent will build on our strengths as a fully integrated, lithium technology leader with a broad portfolio of products for electric vehicles and other energy storage applications, polymers and synthesis, lithium alloys, high-performance lubricants and other specialty uses."
Livent Corporation is one of only a small number of companies with the capability, reputation, and know-how to produce high-performance lithium compounds that are helping meet the growing demand for lithium.
"Today's announcement marks another major step in our progress to create two stand-alone leading public companies," said Pierre Brondeau, FMC Corporation CEO and chairman. "As an independent company, Livent will have the freedom and ability to chart its own course and business strategy. Its leadership and employees will have the flexibility to experiment, thrive and pursue its growth plans with a great new brand. And we are equally excited about FMC's future as one of the largest agricultural technology companies focused on bringing advanced innovation and sustainable solutions to farmers around the world."
Brondeau is expected to serve as chairman of the board of Livent following the separation, and will continue to lead FMC Corporation as CEO and chairman.
Livent has universal appeal, appropriate for a premier, pure-play lithium material sciences company with an expansive global footprint and worldwide business opportunities. The new Livent™ brand, including the brand mark and visual identity, will be revealed closer to the separation date.
For more than a century, FMC Corporation has served the global agricultural, industrial and consumer markets with innovative solutions, applications and quality products. On November 1, 2017, FMC acquired a significant portion of DuPont's Crop Protection business. FMC employs approximately 7,000 people throughout the world and operates its businesses in two segments: FMC Agricultural Solutions and FMC Lithium. For more information, visit www.FMC.com.
Safe Harbor Statement under the Private Securities Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning specific factors described in FMC Corporation's 2017 Form 10-K and other SEC filings. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.
SOURCE FMC Corporation