Thermo Fisher Scientific announces Doe and Ingalls takeover

Thermo Fisher Scientific has announced the acquisition of Doe and Ingalls Management, a leading provider of specialty production chemicals.

A fee of $175 million (108.2 million pounds) has been agreed for the North Carolina-based business, which offers chemicals and customised supply-chain services for the life science and microelectronics industries.

Operating service centres in key biopharmaceutical and microelectronics hubs across North America, Doe and Ingalls generated annual revenues of $110 million last year, thanks to service offerings such as MOR, Smart Sourcing and Streamline.

The company will become part of Thermo Fisher's customer channels business within the laboratory products and services division.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "Doe and Ingalls will strengthen our value proposition by adding products and services that address the production market within our extensive customer base, which we have historically served primarily from a research perspective."

This comes after the firm recently announced record-breaking quarterly sales of $3.1 billion for the first three months of 2012.