PHILADELPHIA - FMC Corporation (NYSE: NYSE:FMC), a prominent player in the agricultural sciences industry, has formed a partnership with Ballagro Agro Tecnologia Ltda., a Brazilian company specializing in fungal-based biosolutions. This collaboration aims to enhance the availability of innovative biological solutions for farmers in Brazil, aligning with FMC's strategy to bolster its biologicals platform in key markets.
Under the terms of the agreement, FMC Brazil will license and distribute Ballagro's leading biosolutions, combining their respective expertise in microbial and fungal technologies. This move is intended to strengthen FMC's biosolutions business in Brazil by broadening the range of advanced crop protection technologies available to growers.
Dr. Bénédicte Flambard, vice president of FMC Plant Health, expressed enthusiasm for the partnership, citing its potential to foster growth and market leadership through innovative solutions. By pooling their knowledge and resources, FMC and Ballagro aim to reshape Brazil's biosolutions landscape.
The collaboration supports FMC's integrated approach to pest management, which includes biological, synthetic, and precision agriculture technologies. This integrated approach is crucial for sustainable agricultural production. Renato Guimarães, FMC's vice president and president of Latin America, highlighted the demand among Brazilian farmers for new, sustainable technologies to combat evolving pest pressures and regulatory challenges.
Arnelo Nedel, commercial director of Ballagro, emphasized the significance of the agreement for advancing sustainable agriculture in Brazil, which has become a benchmark for biological control applications.
FMC has a robust presence in Brazil and has been actively promoting sustainable agriculture with a diverse array of biological solutions that complement its other technologies. The company has launched nearly 50 biological products in 42 countries over the past five years and plans to continue expanding its Plant Health business through R&D, partnerships, and its proprietary pheromones platform.
This announcement is based on a press release statement from FMC Corporation.
InvestingPro Insights
In other recent news, FMC Corporation, an agricultural sciences company, has made significant strides in both product development and financial performance. The company has submitted regulatory applications for a new herbicide, Dodhylex™ active, in eight key rice-producing countries. This novel herbicide represents the first new herbicide mode of action in over 30 years and is expected to offer a solution to the growing problem of herbicide resistance in crops.
In addition to this, FMC Corporation reported a 2% revenue increase in its Second Quarter 2024 Earnings Call. This growth was driven by a 14% volume increase. However, the company revised its full-year revenue guidance due to slower demand recovery than initially anticipated. To counter this, FMC Corporation is implementing cost-saving measures, supported by signs of demand recovery, new product sales growth, improved partner orders, and effective cost management.
The company projects Q3 revenue to be between $1 billion and $1.09 billion, with Q4 revenue expected to range from $1.34 billion to $1.45 billion. It anticipates 15% revenue growth and 28% EBITDA growth in the second half of the year. Despite facing unabsorbed fixed costs and higher distribution expenses, improvements are expected in Q4. These recent developments reflect FMC Corporation's commitment to maintaining its growth trajectory amid market challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.