PerkinElmer has announced that it has established a new subsidiary in the Shanghai WaiGaoQiao Free Trade Zone in China
PerkinElmer has announced that it has established a new subsidiary in the Shanghai WaiGaoQiao Free Trade Zone in China, paving the way for further expansion of its Life and Analytical Sciences' organization to better serve customers.
The establishment of this new legal entity, effective this month, enables PerkinElmer's Life and Analytical Sciences' business to extend its presence in China and in the Asia-Pacific region, and set its sights on achieving a goal of doubling its China business over the next five years.
The new Life and Analytical Sciences China subsidiary will consist of approximately 100 sales and service employees.
"Our strategic decision to expand our base of operations in China underscores our long-term commitment to better serve our current and future customers in this region," said Peter Coggins, Ph.D., president of PerkinElmer Life and Analytical Sciences. "This concentration of resources closer to customers will put us in a much better position to fully understand their most pressing business challenges, enabling us to more quickly respond to their requirements for biopharmaceutical, environmental, chemical, and genetic screening solutions that best solve their application needs, and help provide them a competitive advantage." The company's Life and Analytical Sciences' business currently staffs six representative offices across China, serving customers in the biopharmaceutical, environmental, chemical, and genetic screening industries. PerkinElmer's Optoelectronics business unit has operated in China for more than 15 years, and currently has approximately 1,200 employees in this region.
PerkinElmer views China as a significant growth market based on the country's projected annual GDP growth rate of seven percent and its multibillion-dollar investment in an educational, environmental, pharmaceutical, and biotechnology infrastructure, including its plans to invest $100 million to expand and upgrade the research and analytical capabilities of its top 100 universities, and its $85 billion commitment to clean air and water initiatives. PerkinElmer is also targeting China, one of the world's fastest growing markets for genetic screening, for further expansion of the company's genetic screening business. .
(This was Laboratorytalk's Top Story on 18 January 2003)
