SaleJun 23, 2026, 07:42 AM
FMC Sells Newark, DE Property for $114M; Leaseback Planned
AI Summary
FMC Corporation has entered into a framework agreement to sell its underutilized property in Newark, Delaware, to Ercor Elkton, LLC for approximately $114 million in gross cash proceeds. The company plans to leaseback the facilities it actively operates to ensure no disruption to its research operations at the Stine Research Center. The transaction, expected to close in the fourth quarter of 2026, aims to use the proceeds for debt reduction.
Key Highlights
- FMC entered a framework agreement to sell its Newark, Delaware property.
- Gross cash proceeds are approximately $114 million.
- The buyer is Ercor Elkton, LLC.
- FMC intends to leaseback facilities it actively operates at the site.
- The transaction is expected to close in the fourth quarter of 2026.
- Proceeds are anticipated to be used to pay down debt.
- No impact is expected on research operations at the Stine Research Center.
Price Impact
More from FMC