FMC Corporation has announced that they have reached an agreement to acquire the hydrocolloids business of ISP Corporation. The deal will include the Girvan (Scotland) alginates factory but will not include Germinal, the Brazilian blending business. ISP's hydrocolloid ingredients business had revenues of approximately $80 million in 2007.
FMC, who acquired Pronova some years ago, will effectively merge the two largest alginate businesses. Alginate has a hydrocolloid business has struggled over the past years and has seen characterised by factory closures and changing ownership of the remaining businesses.
A full report is available on the FMC website.