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FMC Minerals Spinoff Lifted By Electric Car Batteries Read More At Investor’s Business Daily

FMC (FMC) shares climbed to an all-time high after it announced it will split into two publicly traded companies.

The split will take the form of a tax-free distribution of shares to existing FMC shareholders and should be complete by early 2015.

Shares were up 5% in more than five times usual trading volume on the stock market today.

One company, FMC Minerals, will include its alkali chemicals and lithium businesses. It uses low-cost technologies to produce soda ash used in glass and other products. Its lithium business sells the chemical to energy storage, pharmaceuticals, polymers and industrial markets.

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