FMC Corp., Philadelphia, plans to split into two separate entities.

The new FMC will comprise FMC Agricultural Solutions and FMC health and nutrition, according to a news release.

FMC Minerals will comprise the current FMC Minerals segments, including alkali chemicals and lithium batteries.

The separation still has to be approved by the company's board of directors and other regulatory approvals. It is expected to be completed in early 2015, and each company will subsequently be listed on the New York Stock Exchange.