North Carolina, United States: FMC Corporation and Envu have announced the successful completion of the sale of FMC’s Global Specialty Solutions (GSS) business to Envu.

The companies announced the signing of a definitive acquisition agreement on July 11 and have now satisfied all necessary conditions and regulatory approvals.      

The divestiture of GSS, which includes a line of products that serve a diverse mix of non-crop markets such as golf courses, professional sports stadiums and pest control, is a key step in FMC’s strategic plan to focus solely on innovating products and services for the global crop protection market.

“The successful sale of our GSS business to Envu marks an important milestone for FMC,” said Pierre Brondeau, FMC chairman and CEO.

“This transaction enables us to further sharpen our focus on our core agricultural business while ensuring the GSS business and employees have the right partner in Envu to support their continued growth and success.

“We look forward to our on-going collaboration with Envu to ensure a smooth transition and drive innovation in the non-crop market,” he added.

As part of the agreement, FMC will work with Envu through the companies’ transition period and will remain a contracted supplier of key products and actives.

This on-going collaboration will support a seamless transition for customers and employees while allowing Envu continued access to innovation.

“This is a very exciting day for Envu, and we believe for our customers as well,” said Gilles Galliou, CEO at Envu, a Full Business Member of the Asian Golf Industry Federation.

He added: “Now that the deal is closed, we will move quickly to begin integrating the GSS team and exploring ways that we can leverage our collective strengths to deliver more innovation and more value for our customers.

“We look forward to continuing to collaborate with FMC as a trusted supplier and partner.”

FMC intends to allocate all proceeds from the sale to debt reduction.