PerkinElmer Expands China Presence
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.
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.
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