World-class scientific instrument manufacturer and data monitoring company Thermo Fisher Scientific (NYSE: TMO) was recently chosen to supply measuring instruments and data capture expertise to Sinopec Shanghai Petrochemicals Co. (ADR) (NYSE: SHI), China's largest producer and supplier of oil and petrochemical products.
Monetary details of the deal were not disclosed in the press release but Thermo Fisher Scientific currently has over $9 billion in annual revenue and serves more than 350,000 biotech companies, hospitals and various research institutions that capture and/or monitor data in real time.
Thermo Fisher Scientific has been involved in data collecting in the petrochemical industry for more than two decades. Its laboratory information management system (LMS) will be the standard for all data manipulation at Sinopec. Such standardization will enhance cost efficiencies, improve real-time data monitoring and reduce time to market. Thermo Fisher Scientific instruments and processes are already in use at multiple Sinopec laboratories in China.
Shares of both Thermo Fisher Scientific and Sinopec rose on the news. Thermo Fisher Scientific closed at $47.45, up $0.73, while shares of Sinopec were up $0.68 to close at $53.78.
In unrelated news, Thermo Fisher Scientific sold one of its divisions, Genevac, to Riverlake Equity Partners LP for an undisclosed sum. Genevac makes equipment used in pharmaceutical research.
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Reader Comments (Page 1 of 1)
4-05-2007 @ 9:41PM
Nelson said...
Impressive. Anyway, I'm a bachelor here in Charlotesville, Virginia. I'd like to meet a Chinese woman in China. Willing to travel over there to meet her. Looking for a life..........I mean I'm looking for a wife. My email is englishdegreeman@aol.com
4-24-2007 @ 4:52PM
Lisa said...
I'm glad Fisher landed the Sinopec contract, but I think the better news is that they now own ThermoElectron. Thermo carries some excellent lines of laboratory centrifuges. Other Thermo products fill some unique (but fairly widespread) applications perfectly.
Specifically, Thermo distributes Jouan centrifuges, a brand I specified when ordering equipment for the lab where I work. The advantage to the Jouan centrifuges I specified is that they will not operate if the equipment is not properly balanced. This is important in a laboratory with careless people and inexperienced students. It means that they can't break the centrifuge, and I don't have to worry about rotors shooting out the side of the equipment at high speed. I've been through enough bent centrifuge spindles and other stupid human tricks in my time in the laboratory to appreciate an idiot-proofing feature. It keeps me from yelling so much.
4-24-2007 @ 4:52PM
Lisa said...
I'm glad Fisher landed the Sinopec contract, but I think the better news is that they now own ThermoElectron. Thermo carries some excellent lines of laboratory centrifuges. Other Thermo products fill some unique (but fairly widespread) applications perfectly.
Specifically, Thermo distributes Jouan centrifuges, a brand I specified when ordering equipment for the lab where I work. The advantage to the Jouan centrifuges I specified is that they will not operate if the equipment is not properly balanced. This is important in a laboratory with careless people and inexperienced students. It means that they can't break the centrifuge, and I don't have to worry about rotors shooting out the side of the equipment at high speed. I've been through enough bent centrifuge spindles and other stupid human tricks in my time in the laboratory to appreciate an idiot-proofing feature. It keeps me from yelling so much.