MILFORD, Mass.--(BUSINESS WIRE)--Following recent approval by its Board of Directors, Waters Corporation (NYSE: WAT) announced plans to significantly expand its precision chemistry operation in Taunton, Mass. The company anticipates investing approximately $215 million to build and equip a new state-of-the-art facility that will support rising global customer demand, as well as ongoing innovation in chemistry technology.
The company's Taunton, Massachusetts site is responsible for bulk synthesis of chromatographic media which is critical to sample analysis for pharmaceutical, biopharmaceutical, materials, food, clinical and biomedical research applications.
"Our portfolio of innovative precision chemistry products is critical to scientific advancements in the life, materials and food sciences," said Christopher J. O'Connell, Waters Corporation Chairman and CEO. The expansion of our Taunton facility will ensure Waters customers continue to benefit from the most innovative chromatography particle R&D and the highest quality production in the industry."
The Taunton project is a noteworthy example of Waters’ capital allocation strategy, which prioritizes investing for long term growth and innovation. The return on this investment will be enhanced by the company's access to capital following U.S. tax reform, as well as the strong partnership of the Commonwealth of Massachusetts and the City of Taunton.
The company plans to employ LEED certification standards as well as state-of-the-art manufacturing and process technology to construct a new center-of-excellence that meets output, cost, quality and sustainability objectives. Specific plans remain subject to refinement, however the company expects the new plant will be operational by 2022. Until then, the existing Taunton facility will fully meet operational and growth needs.
About Waters Corporation (www.waters.com)
Waters Corporation (NYSE: WAT), the world's leading specialty measurement company, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, and food sciences for 60 years. With approximately 7,000 employees worldwide, Waters operates directly in 31 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.
Waters is a registered trademark of the Waters Corporation.