Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced plans for a new manufacturing facility in China within the Suzhou Science and Technology Town - part of the company's strategy to aggressively expand its presence in the Asia-Pacific region. The new facility, scheduled for completion in early 2012, will develop and manufacture laboratory instruments, equipment and consumables for China's growing life sciences markets.
The project will play an important role in the future growth of the Suzhou New District, which has been designated as a center for technology development. The new Suzhou Science and Technology Town is a key component of the regional plan developed by the Jiangsu Province and Suzhou municipality to create a technology-based infrastructure.
"China is undergoing tremendous changes that impact its population, from healthcare to the environment to food safety, creating new opportunities for investment and growth," said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. "China continues to grow significantly and is now our third largest country in terms of revenue. By bringing Suzhou online to complement our existing facilities, we continue to increase our depth of capabilities and strengthen our competitive advantage in the region."
In the past 12 months alone, Thermo Fisher has opened a second demonstration laboratory, in Beijing, and its new China Technology Center in Shanghai, bringing its total workforce in China to more than 1,400. The company recently reported that its revenues in China grew by more than 14 percent in 2010 year to year.