SECURITIES AND EXCHANGE
COMMISSION Washington, DC
20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of
1934
October 17, 1995
IMC GLOBAL INC.
(Exact name of registrant as specified in
charter)
Delaware 1-9759 36-
3492467
(State or other jurisdiction (Commission (IRS
Employer of incorporation) File Number)
Identification
No.)
2100 Sanders Road, Northbrook, IL 60062
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code(708) 272-9200
Item 5. Other Events
The following is the text of a joint press release relating to
the acquisition of an animal feed ingredients business.
NORTHBROOK, IL. AND NEW ORLEANS, LA., October 17, 1995 -- IMC
Global Inc. (NYSE: IGL) and Freeport-McMoRan Resource Partners,
Limited Partnership, (NYSE: FRP) announced today that their IMC-
Agrico Company joint venture has acquired the animal feed ingredients
business of St. Louis-based Mallinckrodt Group Inc. for $110 million
cash, including
working capital. IMC-Agrico is one of the world's leading producers of
phosphate rock and concentrated phosphate crop nutrients for
agriculture.
Mallinckrodt's animal feed ingredients business is one of the
world's
largest producers of phosphate-based animal feed ingredients with an
annual capacity in excess of 700,000 tons and fiscal 1995 revenues of
$169 million. IMC-Agrico has managed the animal feed plant operations
for Mallinckrodt on a contractual basis for several years and the
principal facilities being acquired are located within IMC-Agrico's
concentrated phosphate complex in New Wales, Florida. Mallinckrodt's
animal feed ingredients business represents IMC-Agrico's largest
phosphoric acid customer, consuming nearly 300,000 tons per year or
about 7 percent of the joint venture's phosphoric acid capacity.
"This acquisition is a strong complement to IMC-Agrico's existing
business and expands our ability to serve the needs of global
agriculture," said Wendell F. Bueche, chairman and chief executive
officer of IMC Global. "We are confident that the animal feed
ingredients business will be integrated into IMC-Agrico quickly, and
that it will provide immediate positive financial results to the joint
venture's partners."
Rene L. Latiolais, president and chief executive officer of Freeport-
McMoRan Inc. (NYSE: FTX), managing general partner of FRP, said: "The
acquisition of this business, the leader in its industry, provides high
quality diversification and growth for IMC-Agrico and enhances the joint
venture's flexibility in maximizing returns from its core phosphate
production. Further, the acquisition directly involves IMC-Agrico in
the broader aspects of the overall agricultural arena and specifically
to the expanding animal nutrition business, especially in Asia,
complementing IMC Agrico's increased focus there for phosphate crop
nutrients."
IMC Global is one of the world's leading producers of crop nutrients
for the international agricultural community. In addition to its
participation in IMC-Agrico, the Company also mines, processes and
markets potash in the United States and Canada, and producers sulphur
and oil through other joint-venture operations.
Freeport-McMoRan Resource Partners is engaged in the production of
phosphate crop nutrients and the mining of phosphate rock through IMC
Agrico; the mining, transportation and terminalling of sulphur, and the
development and production of related oil reserves.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
IMC GLOBAL INC.
By MARSCHALL I. SMITH
Marschall I.
Smith Senior Vice
President,
Secretary
and General
Counsel
October 17, 1995
