SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
October 11, 2001
FMC CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 1-2376 94-0479804
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
200 East Randolph Drive, Chicago, Illinois 60601
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(Address of principal executive offices) (Zip Code)
(312) 861-6000
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Registrant's telephone number,
including area code
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Item 5. Other Events
On October 11, 2001, FMC Corporation issued the following release:
FMC Corporation to Decommission Pocatello Plant Following Cessation of
Phosphorus Production
PHILADELPHIA, OCTOBER 11, 2001 - Astaris LLC has announced the company will
cease elemental phosphorus production at the Pocatello, Idaho plant by year-end.
This decision is expected to improve significantly the competitiveness of
Astaris by switching more feedstock to lower cost purified phosphoric acid.
Following cessation of production by Astaris, FMC will be responsible for the
site and decommissioning of the plant. FMC will work with the U.S. Environmental
Protection Agency to remediate the site in an environmentally sound way that
addresses the needs of the surrounding Pocatello community and the
Shoshone-Bannock Tribes.
According to Robert I. Harries, FMC Vice-President, "For FMC, this announcement
closes a chapter in our long association with the Pocatello plant. We will now
switch our environmental focus from existing operations to completing our
obligations to remediate and restore the site. As a result we will halt spending
on consent decree projects which are designed to treat waste generated by
ongoing production. Overall, the decision to cease phosphorous production lowers
both the operating costs of Astaris and the long-term environmental costs at
Pocatello."
In April 2000, FMC and Solutia Inc. transferred the assets of their phosphate
businesses to a new joint venture company named Astaris LLC. Although Astaris is
operating the plant with more than 300 employees, FMC has been and continues to
be responsible for implementation of the RCRA consent decree.
At the end of the second quarter 2001, FMC reported asset impairments and
restructuring charges of $227 million ($372 million before tax) for FMC's U.S.
phosphorus-related activities primarily related to environmental compliance. FMC
expects additional fourth quarter restructuring charges to cover its costs of
closure and remediation at Pocatello which will be in the range previously
disclosed, namely $40 to $60 million after tax.
FMC Corporation is one of the world's leading producers of chemicals and
machinery for industry and agriculture. FMC employs approximately 15,000 people
at more than 90 manufacturing facilities and mines in approximately 25
countries. The company divides its businesses into five major segments: Energy
Systems, Food and Transportation Systems, Agricultural Products, Specialty
Chemicals, and Industrial Chemicals.
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Safe Harbor Statement under Private Securities Act of 1995: Statements in this
news release that are forward-looking statements are subject to various risks
and uncertainties concerning specific factors in FMC's 10-K report and other SEC
filings. There can be no assurance that any transaction will be approved or
completed. Such information contained herein represents FMC management's best
judgement as of the date hereof based on information currently available. The
corporation does not intend to update this information and disclaims any legal
obligation to the contrary.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
FMC CORPORATION
By /s/ Stephen F. Gates
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Stephen F. Gates
Senior Vice President, General
Counsel and Secretary
Date: October 12, 2001