FMC Corporation FMC has announced a framework agreement to sell its property in Newark, DE, for roughly $114 million in gross proceeds. The transaction remains subject to a due diligence period, closing conditions, and adjustments.On completion, FMC plans to lease back the facilities it currently operates under a separate lease agreement while also retaining ownership of its adjacent properties in Maryland.
The decision arrived as a part of FMC’s ongoing effort to optimize its asset base by liquidating underutilized real estate and using the proceeds to reduce debt. The company will maintain its operations to continue on its growth strategy. FMC’s Stine Research Center, which serves as the global headquarters for its R&D organization, will continue operating at the Newark site after the transaction. The company stated that its scientific infrastructure, R&D capabilities and core research activities will remain fully intact.
The Stine Research Center will continue to play a central role in advancing FMC’s innovation pipeline. The company will now reduce its underutilized space while improving the world-class facilities and infrastructure…