Bolstered by coronavirus-related contracts, Thermo Fisher Scientific has announced expansion plans that will more than double its manufacturing capacity.
This week, the company said it plans to pump $600 million into capital investments through 2022. The expansion plans, created to support both short-term COVID-19 demands and long-term development goals, will add more than 1,500 jobs across 11 manufacturing sites around the world.
In particular, the company plans to grow its prowess in three core areas:
Single-use technologies: Thermo will expand its SUT capabilities at facilities in Utah, Pennsylvania, California, Singapore, Cramlington, UK and Suzhou, China.
Purification: The company will boost its resins manufacturing at a site in Massachusetts, and reinforce its capabilities of process-scale chromatography for vaccines, gene therapies and other applications.
Cell culture media and process liquid: Sites in New York, Florida and Scotland will increase their production of Gibco cell culture media, supplements and process liquids.
Thermo, which specializes in lab equipment and diagnostics supplies, has experienced a major sales boom during the pandemic. This year, the company raked in an extra $2 billion in coronavirus-related revenue from July to September alone. And in its fourth quarter earnings statement for 2020, the company reported $10.5 billion in revenue — a 54 percent increase year over year.
Read the press release.
