Belchim buys back shares from FMC

Belchim Crop Protection NV and Belchim Management announced the completion of the acquisition of the 20% shares that FMC Chemicals sprl has in Belchim Crop Protection NV.  By the end of the company’s fiscal year (September 30th 2015), the second part of the deal, 10%, will be completed.  The buyback operation was mutually agreed by Belchim Management and FMC in December 2014 in light of FMC’s acquisition of Cheminova, earlier this year.

Belchim Management, the Belgian holding company owned by Dirk Putteman, founder of Belchim Crop Protection NV now owns 75% of the shares.  The other 25% shares are owned by ISK Biosciences Europe NV.

In a limited number of countries, the company will keep the distribution rights of some FMC products currently distributed by Belchim.  Also, both companies have secured their supply agreement for FMC-compounds that are currently used in a number of Belchim products (ready-to-use mixtures with Belchim propriety compounds).

Belchim recorded a 25% sales increase in 2014 (compared to 2013) and expects to reach a turnover of close to 400 mio euros in 2015. With a significant innovation pipeline, the company is secured to grow further to 500 mio euros turnover within two years.