Thermo Electron

Thermo Electron Corporation
Fate Merged
Successor Thermo Fisher Scientific
Founded 1956
Defunct 2006
Headquarters Waltham, Massachusetts
Products Analytical and scientific products and services
Number of employees
 37,000
Arvin Smith and George Hatsopoulos receive the 2011 Pittcon Heritage Award from Tom Tritton of the Chemical Heritage Foundation

Thermo Electron Corporation (NYSE: TMO) (incorporated 1956) was a major provider of analytical instruments and services for a variety of domains. Thermo Electron was co-founded in 1956 by George N. Hatsopoulos (DOB 07/01/1927), Peter M. Nomikos (DOB 26/02/1932). Hatsopoulos is a MIT PhD in mechanical engineering and Nomikos a Harvard Business School graduate.[1]

After graduating from Northeastern University in 1959 John Hatsopoulos[2] (brother of George) joined the company as CFO. Arvin Smith joined the company in 1970 later serving as President from January 1998.[3]

In 2011, Thermo Fisher Scientific, its successor, had revenues of over $11 billion, and employed 37,000 people.

On May 14, 2006, Thermo and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange. The merged company became Thermo Fisher Scientific. On November 9, 2006, the companies announced that the merger had been completed.[4] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[5] In April 2007, Genevac was sold to Riverlake Partners LLC[6] and the merger closed with FTC approval.[7]

Products

Notes

  1. ↑ http://web.mit.edu/newsoffice/founders/Thermo.html Company founding
  2. ↑ http://www.bloomberg.com/research/stocks/people/person.asp?personId=760477&privcapId=30029621
  3. ↑ http://www.bloomberg.com/research/stocks/private/person.asp?personId=1122456&privcapId=29977788
  4. ↑ Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific, press release, November 9, 2006
  5. ↑ Merger of Thermo and Fisher anticompetitive, FTC Ruling
  6. ↑ 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
  7. ↑ FTC consent to Genevac divestiture, FTC news release
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