Eurofins Food Testing Singapore Pte will provide analytical services to the Singapore market and serve as a competence center for growing markets in The Philippines, Thailand and Indonesia.
The 557m2 facility in Paya Lebar has started testing services for unnamed global food and beverage companies in the region.
The laboratory will provide general microbiology testing for food and water such as APC, Coliform, E. coli, B. cereus, S. aureus, yeast and mould.
It is also capable of pathogen analysis for Salmonella, Listeria and Legionella.
Asia Pacific potential
Eurofins said Asia Pacific contributed revenues of €153.7m, representing 22.5% growth over H1 2015 despite significant negative currency impact in some countries, during its half year results.
The firm said it was ‘on track’ to complete an expansion of its main Chinese food testing laboratory in Suzhou.
It added testing laboratories in Australia and Singapore will be constructed by the end of 2017.
These projects follow completion of labs in Hong Kong and India, as well as site upgrade and expansions in Australia and New Zealand in 2015.
Competence centers include Eurofins Denmark for vitamins and amino acids testing, Eurofins Dr Specht Lab Germany for pesticides testing, Eurofins WEJ Contaminants Lab Germany for mycotoxins, veterinary residues and organic contaminants tests and Eurofins Genescan Lab Germany for GMO testing.
Dr Gilles Martin, Eurofins CEO, said: “This new laboratory is another demonstration of Eurofins' commitment to expand its Asia Pacific footprint, and support the local industries by providing world-class analytical services in the region.
“We intend to continue to strengthen our presence in Singapore, and the rest of Asia by rolling-out the group’s full capabilities and technical know-how.”
Eurofins gives update and sets objectives
Eurofins has also raised its 2016 profit objectives and set a preliminary €2.9bn revenue objective for 2017.
The group has completed 23 small acquisitions in the year to date which generate about €140m in annual revenues. Since June 30, 2016, it has spent €58m on acquisitions, bringing total spend year to about €150m.
Last month, the firm raised €296m towards financing potential acquisition targets following issuance of 800,000 new shares to institutional investors.
Continued strength across the business allows management to remain positive it is on track to achieve the 2020 objectives of reaching €4bn of revenues and €800m in adjusted EBITDA.
Dr Martin said it has been making good progress towards financial, acquisitions and operational mid-term objectives.
“The group should complete the vast majority of its planned laboratory infrastructure investments by the end of 2017, so that it will be equipped with very effective platforms to compete in its markets and provide clients with an unequalled level of service,” he said.
“This, combined with the completion of 35 start-up laboratories by the end of 2017, and a number of new exclusive tests out of its R&D, bode well for strong, sustainable growth.”