Thursday, December 18, 2008

Charles River Labs adds $20M, 60 jobs ... in S.C.

By Mass High Tech staff

Bucking the layoff trend, Charles River Laboratories International Inc. plans to invest $20 million and add 60 jobs to a location in Charleston, S.C., according to published reports.

The Wilmington-based company, which has offices worldwide and provides lab animal support services, plans to build a warehouse and research center in the Charleston area, though exact location details have not been disclosed, according to the Charleston Post and Courier. Charles River Labs (NYSE: CRL) senior vice president Foster Jordan told the newspaper that South Carolina’s workforce, innovation and commitment to the life sciences factored into the company’s decision to expand its operations there.

Unlike many life sciences companies in this difficult economy, Charles River Labs has recently expanded its global imprint. In October, the company opened a 60,000-square-foot facility in Shanghai to support growing demand from it clients for outsourced drug development services. The company said the market was attractive because of China’s large population and increasingly educated workforce.

Earlier this year, it also opened a 52,000-square-foot facility in Frederick, Md., where it works with the National Cancer Institute to provide genetically defined, pathogen-free mice to target the causes and treatments of infectious diseases, metabolic diseases, cancer, bioterrorism threats and other health issues. And in September, Charles River Labs grew its operations with the acquisition of imaging services firm MIR Preclinical Services for $12.5 million in cash

Charles River Laboratories reported a net gain of $154.4 million on $1.2 billion in revenue for 2007. The company has 8,000 workers worldwide.