Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Thermo Fisher Scientific Baltics, the American-capital company engaged in research and experimental development on biotechnology, intends to create 140 new jobs in Vilnius. The company is expanding its manufacturing capabilities of products for the life sciences market at the company’s site in Vilnius. It has already published at least 70 open positions for biotechnologists, scientists, chemists, quality control analysts and other positions on their webpage.
The managing director of Thermo Fisher Scientific Baltics said that 'the level of qualified candidates available' in Lithuania influenced their decision to expand Vilnius site, while the Lithuanian Minister of Economy and Innovation declared that the company’s expansion is 'a major step' toward achieving the goal of having life sciences yielding 5% of national GDP in 2030.
Thermo Fisher Scientific started its activities in Lithuania in 2010, when the company acquired a leading Lithuanian biotech company Fermentas for USD 260 million. Currently the company employs 1,260 employees. The site in Vilnius produces molecular, protein, and cellular biology products for research and diagnostics applications.
Thermo Fisher Scientific is one of the leading companies in serving science, with annual revenue exceeding USD 25 billion. It has a global team of more than 75,000 people worldwide. The company is known for its industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.
Eurofound (2020), Thermo Fisher Scientific Baltics, Business expansion in Lithuania, factsheet number 102751, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/102751.
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