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Thermo Fisher Shares Rise 3.88% After Opening Manufacturing Site -Breaking

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© Reuters.

Sam Boughedda

Investing.com – Thermo Fisher Scientific Inc On Wednesday, the company announced that it had opened a new manufacturing facility for single-use technology in Ogden Utah. 

The stock price rose by 4.15% after this news.

Supplier of scientific instrumentation stated that the new facility would increase production and enable them to make “high quality technology and materials”, which will allow them to develop breakthrough treatments and new vaccines. According to the company, the new $44 million plant will increase production of bioprocess containers that are single-use.

The $650 million Multi-year Investment Plan by Thermo Fisher, which was announced last year in order to improve production capacities, includes this investment.

Bioprocess container (BPC), systems manufacturing will take place at the Ogden facility. 

Mitch Kennedy from Thermo Fisher Scientific president of single-use technologies said, “The Ogden plant further strengthens Our Global Manufacturing Network, which has been growing in order to meet increasing demand For Single-Use Consumables.”

More than 300 people have been hired at the new facility. It may also employ as many as 450 workers in its warehouse.

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