US crop chemical producer FMC has seen its quarterly profits rise amid higher lithium prices and expansion in China. The company's total revenue rose 42.3% to $979.6m in Q4 of 2017, while revenue in its lithium business soared 60% to $113m from a year earlier. In the US, the company is also expanding into new markets such as China where it plans to build an additional battery plant by 2020. It also reiterated plans to publicly list FMC Lithium to create two separate companies later this year.
US crop chemical producer FMC has seen its quarterly profits rise amid higher lithium prices and expansion in China. The company's total revenue rose 42.3% to $979.6m in Q4 of 2017, while revenue in its lithium business soared 60% to $113m from a year earlier. FMC said it would seek to double yearly lithium production to 40,000 metric tonnes in Argentina by 2022, three years later than its initial target. It also reiterated plans to publicly list FMC Lithium to create two separate companies later this year.