Early in 1994, FMC created United Defense, L.P., a joint venture with Harsco Corporation's Combat Systems, to control its defense unit. By the end of the decade, FMC Gold contributed 25 percent of the conglomerate's annual revenues and helped offset declining defense income as the Cold War ended.The years between 1977 and 1980 were not, however, marked solely by unchecked growth. In 1989, the company acquired Meridian Gold from Burlington Resources through an exchange of stock.
Over the next 34 years, he built his product into the preferred pump in the region. In 1970, the company was the second largest producer of the chemicals, which caused premature aging of natural water sites.
While prospecting for antimony, a flame retardant chemical, the corporation discovered gold and elected to develop the resources under a new subsidiary, FMC Gold. Subsidiaries List . In 1968, with Pope as its leader, FMC did show a brief resumption of its upward growth trend. The company was also the leading manufacturer of agarose, a product used in genetic research, as well as phosphate ester flame retardants.Every year between 1950 and 1966 the Food Machinery and Chemical Corporation (which changed its name to the FMC Corporation in 1961) showed a financial gain, and the company was a favorite of investors.
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Such environmental conflicts, while not damaging the company directly, forced additional internal changes in production.The roots of the FMC Corporation lie in the John Bean Spray Pump Company established in California in 1884 when Bean invented the hand spray pump.
The plan, which was okayed by shareholders in May 1986, saved FMC from outside takeover but saddled it with debt.In 1967, FMC's financial growth came to an abrupt halt. While prospecting for antimony, a flame retardant chemical, the corporation discovered gold and elected to develop the resources under a new subsidiary, FMC Gold. The profitability of Malott's policies was almost immediately apparent; by the spring of 1976, with a personnel increase of only 1,000 workers, Malott raised sales from $1.3 billion to $2.3 billion, a much-needed $1 billion increase.After the war, the company's production line returned to its earlier emphasis, although defense contracts continued to play an important role in FMC's operations throughout the twentieth century.
The synthetic fiber branch was losing money, and the recession of 1970--71 caused even the strong machinery division to suffer. The Niagara merger left Food Machinery in the position of producing not only sprayers and pumps, but the chemicals to put through them; the later merger, upon which the company became the Food Machinery and Chemical Corporation, expanded their chemical product line even more.By the end of the decade, Paul Davies' company was experiencing severe financial difficulties. FMC continued to lead the world in the production of cellulose gel, a fat replacement for food products marketed under the Avicel and Novagel brands. This man was Paul L. Davies, Crummey's son-in-law, who left a banking vice-presidency to become vice-president of Food Machinery. In 1989, the company acquired Meridian Gold from Burlington Resources through an exchange of stock.