FMC acquires Ontario-based Adventus Intellectual Property for undisclosed sum; acquisition target holds patents, intellectual property related to bioremediation technology for chlorinated organic compounds, pesticides and hazardous metals
November 21, 2011
– Strengthens FMC's portfolio of environmental remediation technologies
FMC Corporation (NYSE: FMC - News) announced today the company has acquired the assets of Adventus Intellectual Property from Covington Capital Corporation and VentureLink Innovation Fund Inc. Adventus has a portfolio of specialty remediation technologies used in soil and ground water.
"Adventus presents an exceptional opportunity for FMC to broaden its growing portfolio of advanced specialty solutions serving the global site remediation market," said Mark Douglas , president of FMC Industrial Chemicals.
"Meeting current and future regulations for clean water, air, and soil will demand novel technologies and sustainable solutions," Douglas added. "Today's announcement will expand FMC's current portfolio of advanced peroxygen-based products for soil and groundwater remediation and air pollution abatement."
Adventus, a Canadian corporation located in Mississauga, Ontario , holds patents and intellectual property related to bioremediation technology for chlorinated organic compounds, pesticides and hazardous metals. Terms of the transaction were not disclosed.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumemarkets globally for more than a century with innovative solutions, applications and quality products. In 2010, FMC had annual sales of approximately $3.1 billion . The company employs approximately 5,000 people throughout the world, and operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. For more information, visit www.FMC.com.