Processing Magazine

FMC to close Baltimore plant

June 25, 2007
Diversified chemical company FMC Corp. said it will halt production at its agricultural chemicals plant in Baltimore by March 2008 as part of a large-scale outsourcing plan, according to the Associated Press. The Philadelphia-based company said the production phase-out will cost about $125 million to $135 million in restructuring, severance and other charges over the next five quarters, starting in the second quarter of this year. Excluding those charges, FMC said it will save about $5 million to $6 million in 2007 from the closure. The total annual savings expected from the shutdown will be about $25 million to $30 million, the company said, and should be reached by 2009. The closure is expected to affect 130 jobs