FMC Corp announces restructuring plans; shares rise

Shares of agrichemicals company FMC Corp FMC.N rise 1.3% to $14.10 premarket

Co said late on Friday its board approved a restructuring plan, aimed at cutting costs, shutting down high-cost plants and shifting production to lower-cost locations

FMC adds it is implementing initiatives in Asia to reflect the smaller scale of the region's business following the planned sale of its India operations

FMC expects to save about $175 million or more by the end of 2027

Expects to incur restructuring charges of between $560 million and $635 million over the life of the program

Up to last close, stock down 71.3% YTD