BUZZ-FMC Corp announces restructuring plans; shares rise

Reuters12-15 19:57

** Shares of agrichemicals company FMC Corp FMC.N rise 1.3% to $14.10 premarket

** Co said late on Friday its board approved a restructuring plan, aimed at cutting costs, shutting down high-cost plants and shifting production to lower-cost locations

** FMC adds it is implementing initiatives in Asia to reflect the smaller scale of the region's business following the planned sale of its India operations

** FMC expects to save about $175 million or more by the end of 2027

** Expects to incur restructuring charges of between $560 million and $635 million over the life of the program

** Up to last close, stock down 71.3% YTD

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))

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