Thermo Broadens Services and Expands Facilities in China
New demonstration center and service team provide greater capabilities throughout Asia
WALTHAM, Mass., Nov. 8 /PRNewswire-FirstCall/ -- Thermo Electron Corporation (NYSE:TMO), the world leader in analytical instruments, announced the opening of a new customer service and demonstration laboratory center in Shanghai, China. The 43,000 square foot (4,000 square meters) facility will also house sales and marketing personnel, and technical support and service for this region.
Over the past two years, Thermo has executed a strategy for long-term growth in Asia by expanding its local resources. The company dramatically increased its footprint in China by opening a new manufacturing center of excellence, acquiring additional distribution capabilities and expanding its sales, marketing and services personnel. China has now become the second largest market worldwide for Thermo, representing over 5% of Thermo's overall revenue. This new, state-of-the-art customer demonstration center complements Thermo's commercial offices located throughout the region, including Beijing, Shanghai, Hong Kong, Guangzhou, Kunming, Chengdu and Shenyang.
With our infrastructure now firmly grounded and established within China, it is time for Thermo to focus more acutely on broadening our interaction with customers in this region, offering them the opportunity to learn more about our complete laboratory solutions through hands-on operation, said Marc N. Casper, senior vice president of Thermo Electron. This new demo center represents yet another major Thermo investment in China, providing applications experts, a full inventory of our instruments, and a customer support operation to enable even more direct access to our customers in China and throughout all of Asia.
Customers visiting the new facility will have the opportunity to see end- to-end laboratory solutions and use products in a variety of applications, including sample preparation, mass spectrometry, chromatography, elemental analysis, molecular process, informatics and temperature control. There is also a dedicated training area designed to assist customers with seeing new products and learning new techniques.
In December of 2004, Thermo announced the expansion of its manufacturing operations in China with the introduction of a new 90,000 square foot facility that increased manufacturing capacity in Shanghai by more than four times. Thermo products manufactured at the site include atomic absorption instruments, microplate readers and sample preparation equipment, and will soon include metal detection and environmental instruments. This facility now serves as a center for Asian operations, and is becoming a central point for supply chain management and logistics for Thermo worldwide.
About Thermo Electron Corporation
Thermo Electron Corporation is the world leader in analytical instruments. Our instrument solutions enable our customers to make the world a healthier, cleaner and safer place. Thermo's Life and Laboratory Sciences segment provides analytical instruments, scientific equipment, services and software solutions for life science, drug discovery, clinical, environmental and industrial laboratories. Thermo's Measurement and Control segment is dedicated to providing analytical instruments used in a variety of manufacturing processes and in-the-field applications, including those associated with safety and homeland security. Based near Boston, Massachusetts, Thermo has revenues of approximately $2.7 billion, and employs approximately 11,000 people in 30 countries. For more information, visit http://www.thermo.com/.
The following constitutes a "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward- looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth under the heading "Forward-Looking Statements" in the company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 2, 2005. These include risks and uncertainties relating to: the need to develop new products and adapt to significant technological change; dependence on customers that operate in cyclical industries; general worldwide economic conditions and related uncertainties; the effect of changes in governmental regulations; dependence on customers' capital spending policies and government funding policies; use and protection of intellectual property; exposure to product liability claims in excess of insurance coverage; retention of contingent liabilities from businesses we sold; realization of potential future savings from new productivity initiatives; implementation of our branding strategy; implementation of strategies for improving internal growth; the effect of exchange rate fluctuations on international operations; identification, completion and integration of new acquisitions and potential impairment of goodwill from previous acquisitions. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
Media Contact Information:
Lori Gorski
Phone: 781-622-1242
E-mail: lori.gorski@thermo.com
Investor Contact Information
Ken Apicerno
Phone: 781-622-1111
E-mail: investorrelations@thermo.com
Website: http://www.thermo.com/
Source: Thermo Electron Corporation
CONTACT: Lori Gorski, +1-781-622-1242, lori.gorski@thermo.com, or Ken Apicerno, +1-781-622-1111, investorrelations@thermo.com both of Thermo
Web site: http://www.thermo.com/
