FMC CORP (FMC): restructuring charge — FMC launches 'Project Focus' restructuring; targets $150M+ annual savings by end 2025

FMC CORP

Program aims to deliver $50-75M in adjusted EBITDA contribution in 2024 and $150M+ annual run-rate savings by end 2025.
Initial severance and related costs for actions already underway estimated at $20-40 million.
Restructuring driven by unprecedented crop protection market downturn causing severe channel destocking in 2023.
Actions include asset write-offs, workforce reductions, and inventory liquidation; substantially complete by end 2025.
Company unable to estimate total material charges yet; will file amendment when available.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.7

FMC CORP announced a restructuring with charges of $20 to $40 million affecting Brazil business and select jurisdictions.

Type: restructuring
Charge: $20 to $40 million
Affected area: Brazil business and select jurisdictions

Exact text from the filing

The Company estimates severance charges and other costs for initial actions already underway through Project Focus to be in the range of $20 to $40 million.

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3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

FMC CORP filing history →

Source: SEC EDGAR

accession 0000037785-23-000188

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