Thermo Fisher unveils $20M Chinese manufacturing facility

Thermo Fisher Scientific ($TMO) unveiled a new $20 million manufacturing facility in Suzhou, China. Thermo, a global maker of high-tech instruments for medical diagnostics, biotechnology research and environmental/food testing, said the new, 12,000-square meter facility will employ 150 people, have room for expansion and make plastic labware and consumables. While plenty of device and diagnostics companies have made waves about entering the Chinese market in recent years, Thermo Fisher emphasizes that it has done business in the country for 30 years. The company's more recent emerging market focus has revolved around South Korea, Brazil and Russia. Release