By Matt Grossman
Thermo Fisher Scientific Inc. has received a $192.5 million contract from the U.S. Department of Defense to ramp up production of pipette tips used in medical research and diagnostics.
The funds will go toward an investment in a new facility in North Carolina to make pipette tips, which are used in Covid-19 testing along with other research and diagnostics applications, the company said. Construction is scheduled to finish by the third quarter of 2024, but manufacturing at the site could begin a year earlier, Thermo Fisher said.
In the future, the site could also be used to manufacture other product lines, the company said.
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(END) Dow Jones Newswires
September 02, 2021 08:23 ET (12:23 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.