US biotechnology product development company Thermo Fisher Scientific decided on Aug 21 to expand its presence in Suzhou New District, Jiangsu province, according to local officials.
The decision was made at an investment signing ceremony between the company and local government, they added.
Under the agreement Thermo Fisher Scientific will increase its investments in Suzhou and establish an R&D and production facility in the city.
The US group will also establish a production line for disposable bioreactive bags, making it Thermo Fisher Scientific's first production line for the product in China.
A spokesman said Thermo Fisher Scientific is dedicated to providing solutions for food safety, pharmaceuticals analysis, cell analysis, stem cell research and environmental protection. The corporation has annual sales of more than $24 billion.
As early as 2011, it founded Thermo Fisher (Suzhou) Instruments Co in Suzhou New District, which mainly produces laboratory appliances and consumables as well as reagents used for gene synthesis and in vitro diagnosis.
Since this year, Suzhou New District has ramped up efforts to improve its business environment to attract more funds. In the first six months, 26 foreign-funded projects settled in the district with total contractual foreign investment of $349 million.
Thermo Fisher Scientific inks an investment memorandum with Suzhou New District government on Aug 21 to expand its presence in the Suzhou district. [Photo/WeChat account: snd-szgxqfb]