FMC’s Q1 agrochemicals sales surge 32%

FMC’s Agricultural Products segment delivered robust performance with sales increasing 32.2% to $454.2 million in the first quarter of 2012, driven by broad-based growth in Latin America, North America and Asia. "Our first quarter 2012 results provided a very strong start to what we expect will be another record year for FMC.” commented Pierre Brondeau, president, chief executive officer and chairman of FMC. Segment earnings of $129.7 million increased 29.1% versus the year-ago quarter driven by the sales growth, partially offset by higher spending on targeted growth initiatives.

Sales gains were achieved in all regions. In North America, sales increased significantly driven by strong demand for pre-emergent herbicides, growth from new products and the shift of some sales from the second quarter reflecting an early start to the 2012 season due to favorable weather conditions and high crop prices.

In Latin America, sales also increased significantly, driven by a strong finish to the crop season, particularly in sugarcane and cotton segments, and sales from our new market access joint venture in Argentina.

In Asia, sales gains reflected continued strong demand across the region and growth from new products. And in Europe, sales increased driven by volume gains in herbicides and fungicides.