IMC Global

IMC Global
Company type	Public
Industry	Mining, Manufacturing, Fertilizer
Predecessor	International Agricultural Corporation
Founded	June 14, 1909; 117 years ago in New York, United States
Founder	Walderman Schmidten
Defunct	2004
Fate	Merged with Cargill's crop nutrition segment to form The Mosaic Company
Headquarters	New York, United States
Area served	United States, Canada, and 15 other countries
Products	Fertilizers, Potash, Phosphate, Sulfuric acid

IMC Global—also referred to as International Minerals and Chemical Corporation and Imcera—was a mining and manufacturing firm previously listed on the S&P MidCap 400. Established in 1909 under the name International Agricultural Corporation, it combined with Cargill, Inc.'s crop nutrition segment in 2004 to create The Mosaic Company, a prominent entity in crop nutrition.

History

The company was founded as International Agricultural Corporation on June 14, 1909, by Walderman Schmidten in New York. Schmidten raised investment from German mining interests, including Kaliwerke Sollstedt Gewerkschaft, and procured phosphate and potash assets located in Tennessee and Florida. The firm’s capital stock increased from $15 million at inception to $36 million by 1911. During the First World War, demand for fertilizers dropped while the need for sulfuric acid rose sharply. By the 1920s, it had become the largest phosphate proprietor and distributor within the United States.

In late 1941, the organization adopted the name International Minerals and Chemical Corporation and merged with United Potash and Chemical Corporation, significantly broadening its potash business. The suspension of imports from German mines during World War II eliminated competition, thereby driving up potash demand throughout and following the conflict. IMC further extended its footprint across the U.S., including California, through acquisitions such as E.J. Lavino and Company, Great Lakes Container Corporation, and Chemical Leaman Tank Lines. By 1975, IMC operated facilities in thirty-five states, Canada, and fifteen additional countries.

In 1986, IMC purchased Mallinckrodt, a leading chemical manufacturer headquartered in St. Louis. Following a marketing evaluation in April 1990, the company briefly adopted the name Imcera. By 1994, it transitioned to using the Mallinckrodt brand and separated its original operations into a newly public company named IMC. This new entity maintained the same personnel and operational structure but was governed by different shareholders and management.

Further expansion

At the start of 1996, IMC acquired Vigoro Corp., a fertilizer producer and distributor based in Chicago, through a stock deal valued at $1.16 billion. Subsequently, IMC Corporation changed its name to IMC Global, while branding its potash segment as IMC Kalium.

In 1997, IMC merged with the former parent company of Freeport-McMoRan—retaining copper and gold mining assets—in an $800 million stock transaction. Later that year, it also acquired Western Ag-Minerals Co., including its Carlsbad mine in New Mexico, for close to $53 million. This purchase underwent regulatory scrutiny by the Department of Justice and Federal Trade Commission due to potential regional market concentration but was approved based on anticipated efficiencies from resource consolidation. Near the end of the year, IMC further expanded by acquiring Harris Chemical Group, Inc. for $450 million in cash plus $950 million in assumed liabilities, strengthening its fertilizer and salt product lines.

Merger with Cargill

In January 2004, Cargill announced a definitive plan to merge its crop nutrition division with IMC. After selecting a new name through a contest, the combined enterprise was named The Mosaic Company in June. Mosaic commenced trading on the New York Stock Exchange on October 25, 2004, quickly establishing itself as a leading agribusiness firm within the Fortune 500.

External links

Inactive IMC Global website