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Thermo Fisher buys specialty chemicals maker

Associated Press Published: May 1, 2012

WALTHAM, Mass. (AP) — Scientific instrument and laboratory supply maker Thermo Fisher Scientific Inc. said Tuesday it acquired Doe & Ingalls Management LLC for about $175 million in cash.

Doe & Ingalls, based in Durham, N.C., makes specialty chemicals and provides supply-chain services for companies in life science and microelectronics industries. Thermo Fisher said the company had about $110 million in revenue in 2011. It will become part of the customer channels division of Thermo Fisher's laboratory products and services business.

Shares of Thermo Fisher rose $1.11, or 2 percent, to $56.76 in morning trading.