24 May 2016
DETAILS
FMC Corporation announced today
it plans to increase its production capacity
by a total of 20,000 metric tons per year,
effectively tripling its production.
In response to the rapid growth of electric vehicle sales,
and strong demand for
FMC's battery grade lithium hydroxide,
FMC will execute a three-phased capacity expansion
over the next several years.
Phase one is expected to be commissioned
and on line in mid 2017, while
phase two planning is underway.
Upon completion of the phase three expansion,
FMC's lithium hydroxide capacity
will be at least 30,000 metric tons.
FMC expects all three phases
to be complete by 2019,
but has the ability to adjust timing
to meet market demand.
Tom Schneberger,
Vice president and global business director,
"Our phased expansion approach allows
FMC to execute
annual and multi-year sales contracts
for each increment prior to commissioning,"
"Our customers rely on
FMC's unmatched quality and reliability.
It is important that we maintain
this high level of service and expand
our production capacity
as electric vehicle adoption
rapidly increases demand
for FMC's battery grade lithium hydroxide."
SOURCE FMC Corporation
Media contact:
Nicole Miller - 215.299.6791,
nicole.miller@fmc.com,
Investor Relations contact:
Mike Wherley - 215.299.6543,
michael.wherley@fmc.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
