Thermo Fisher Scientific Strengthens Presence in India with Acquisition of Chemito Technologies
WALTHAM, Mass.–Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced it has acquired the Analytical Technologies and Environment Instrumentation divisions of Chemito Technologies Pvt. Ltd. Headquartered in Mumbai, India, Chemito is the country’s largest local supplier of analytical instruments for life sciences and environmental monitoring applications. In addition, Chemito manufactures its own analytical instruments, including gas chromatography, atomic absorption and UV-Vis spectroscopy. “The strong reputation Chemito has developed through its extensive sales network, now complemented by Thermo Fisher’s breadth of scientific and environmental instrumentation, extends the services we can provide to our customers throughout India,” said Marijn E. Dekkers, president and chief executive officer of Thermo Fisher Scientific. “In addition, Chemito gives us manufacturing capabilities in India for analytical instrumentation, which, combined with our overall product portfolio, will allow us to create tailored workflow solutions for our customers in the region.” Chemito’s Analytical Technologies and Environment Instrumentation divisions have annual revenues of approximately $10 million, and will be integrated into Thermo Fisher’s Analytical Technologies Segment. Thermo Fisher Scientific has made significant investments over the past few years to meet growing demand in India, most recently breaking ground on a facility to support its biopharma logistics services for clinical trials management. In 2007, Thermo Fisher acquired Qualigens Fine Chemicals, India’s largest laboratory chemicals manufacturer and supplier, serving customers in a variety of industries, including pharmaceutical, petrochemical, and food and beverage. Thermo Fisher also has a state-of-the-art customer demonstration laboratory in Mumbai that offers customers hands-on experience with its range of laboratory solutions. About Thermo Fisher Scientific Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With annual revenues of $10 billion, we have more than 30,000 employees and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike. Visit www.thermofisher.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 in the company’s Quarterly Report on Form 10-Q for the quarter ended March 29, 2008, under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission (SEC) and available in the “Investors” section of our Website under the heading “SEC Filings.” Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: the risk that the legacy businesses of Thermo Electron Corporation (“Thermo”) and Fisher Scientific International Inc. (“Fisher”) will not be integrated successfully; the risk that the cost savings and any other synergies from the merger of Thermo and Fisher may not be fully realized or may take longer to realize than expected; competition and its effect on pricing, spending, third-party relationships and revenues; the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; use and protection of intellectual property; dependence on customers’ capital spending policies and government funding policies; realization of potential future savings from new productivity initiatives; general worldwide economic conditions and related uncertainties; the effect of changes in governmental regulations; the effect of exchange rate fluctuations on international operations; the effect of laws and regulations governing government contracts; the effect of competing with certain of our customers and suppliers; and the effect of rapid changes in the healthcare industry. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.