Thermo Fisher Scientific (NYSE:TMO) is expanding one of its plants in North Carolina, according to news reports.
The Waltham, Mass.-based laboratory equipment maker will spend $5 million over the next three years to expand a cold storage equipment, centrifuge and oven manufacturing plant in Asheville, N.C., adding 104 jobs. The move will allow the company to add new product lines which will be made at the plant.
Thermo Fisher already employs about 540 workers in the area in three local facilities, a manufacturing plant, warehouse and customer service center. The state of North Carolina will contribute a $208,000 grant to help pay for the expansion.
The company lowered its guidance for the full year after third-quarter sales dipped 2.2 percent and net income rose 1.4 percent. TMO posted sales of $2.53 billion during the three months ended Sept. 26, compared with $2.59 billion during the same period last year. Net income rose to $221.2 million for the quarter, compared with $218.1 million during the the 2008 third quarter.