Near Bilbao in northern Spain, the biotech company Biolan develops and produces diagnostic products that are used in more than 60 countries, including factories owned by dairy giant Groupe Lactalis and Thai fish processor Thai Union Group Pcl.
That was not always so. When Asier Albizu co-founded the company, it was a three-person operation that provided grape quality assessments to the Spanish wine industry. But with the domestic economy mired in a protracted recession following the bursting of a housing bubble in 2008, domestic demand suffered, prompting Biolan to look for another business.
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