FMC to buy China's CoLiving Food Ingredients
Monday July 28, 10:58 am ET
FMC agrees to buy China-based CoLiving Food Ingredients for undisclosed terms
PHILADELPHIA (AP) -- FMC Corp. said Monday it has agreed to buy China-based CoLiving Food Ingredients for undisclosed terms.
FMC said the deal would boost its position in supplying specialty hydrocolloid products and services to the Chinese market.
The companies expect the transaction to close within four to six weeks, pending approval from Chinese regulators.
Philadelphia-based FMC said the deal would add specialty blending capabilities and give it a laboratory in Guangzhou, China.
Shares of FMC rose 80 cents to $66.36 in morning trading.
Source: Associated Press
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