Agilent Technologies, Inc. (A - Free Report) recently announced that it is set to bolster its foothold in the logistics space.
The company has opened a new logistics center in Shanghai, China for timely delivery of consumables and service parts in China.
Shares of Agilent have slightly underperformed its industry on a 12-month basis. The stock has registered a loss of 3.95% against the industry’s growth of 8.64%.
The company expects the new facility to serve the growing demand for parts, supplies and consumables to laboratories in China, thereby fostering revenue generation. The facility will cater to the logistics requirements and improve delivery service to customers throughout the country.
The new facility is Agilent’s first warehouse in Shanghai that has 20,000 square meters of space.
In sync with this expansion spree, last month Agilent opened a new facility in Singapore to meet the increasing demand for fully tested solutions. The center will develop integrated workflows across pharma, biopharma, lipidomics and food-testing markets.
The move underscores Agilent’s growing interest in the global logistics business.
Kristin Giffin, vice president, Operations, Quality and Support, Agilent CrossLab Group, said “With the rapid business growth in China, we needed more flexible and responsive logistics. This new center in Shanghai will enable record on-time delivery of service parts and consumables to our customers, and is a model for our future growth.”
Now a days timeliness has become one of the most important factors to expand market share and sustain profitability. Therefore, Agilent is taking the right steps to ensure continuous service to customers. As competition intensifies, Agilent is opening warehouses all around the world to add capabilities and scale, thereby creating a more flexible and robust distribution network.
Zacks Rank &Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same industry include Groupon (GRPN - Free Report) , PetMed Express and Expedia (EXPE - Free Report) . While Groupon sports a Zacks Rank #1 (Strong Buy), PetMed and Expedia hold a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term earnings growth for Groupon, PetMed and Expedia is currently projected to be 6.5%, 10% and 14.5%, respectively.
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