FMC Completes Investment in Advanced Machine Vision

FMC Corporation has completed the purchase of 119,100 shares of Advanced Machine Vision's Series B Preferred Stock for $2.6 million. AMV said the transaction included an enhanced sales representation arrangement whereby FMC will undertake to sell AMV machine vision systems in much of the world. AMV also announced that Marc T. Giles, general manager of FMC FoodTech's Food Systems and Handling Division, was elected to AMV's board of directors, increasing the size of the board from seven to eight members.

AMV's chairman, president and CEO, William J. Young, said, "FMC's investment and the new board member represent an increased commitment to the long-term market acceptance and growth of AMV's proprietary technologies. We are looking forward to a mutually beneficial relationship."

FMC Corporation is a leading producer of chemicals and machinery for industry and agriculture. Its $2 billion machinery and equipment business provides specialized machinery to food and other industries. Advanced Machine Vision Corporation designs, manufactures and sells standard and CE compliant vision systems used to control manufacturing processes for food and non-food agricultural and other customers, and to identify and remove defects.