Thermo Fisher Opens Facility in South Korea

Waltham, Mass.-based laboratory equipment manufacturer Thermo Fisher Scientific has opened a demonstration and training lab in the South Korean capital of Seoul. The new lab joins two existing facilities that houseapproximately 100 employees.

The 1,800-square-foot facility will give customers hands-on access to various Thermo Fisher equipment.

“Expansion in emerging markets is a key component of our company growth strategy, and this new demonstration center is an important milestone in our plan to establish a more direct presence in South Korea, which is a large and growing market for us,” said Marc N. Casper, president and CEO.

The demonstration center is not the company’s first, however. “First we build the commercial infrastructure, followed by a demonstration center (to bring in customers so that they can see first hand how our products work), then a manufacturing center and R&D center,” said Thermo Fisher spokesman Ronald O’Brien, referring to the company’s successes with this strategy in China, Brazil and India.

Pushing for innovation and cost reduction, the company not only is focusing on expansion but containment as well—at least in the United States. Thermo Fisher is closing both of its manufacturing plants in Two Rivers, Wis., (that process will be complete in August). The company also is eliminating 43 of 100 jobs in the Milwaukee, Wis., plant where product development and lab equipment production takes place. Some of the production will go to Mexico. The company’s Madison, Wis., facilities remain untouched thus far.

Lakeshore Technical College located in Cleveland, Wis., is offering free computer classes at the local Two Rivers High School to recently or soon-to-be laid offemployees of the closing plants.

In a separate press release regarding new products, Casper stressed that the company is facing economic hurdles common to most companies in the industry: “While economic pressures are forcing our customers to be more productive, the need to address complex healthcare, environmental and industrial challenges is equally pressing.”