GSI Announces Closing of Sale of U. S. Optics Business
BEDFORD, Mass., Oct. 9 -- GSI Group Inc., (NASDAQ:GSIG), a leading supplier of precision technology and semiconductor systems, today announced that it has completed the sale of its General Optics business unit located in Moorpark, California to Gooch & Housego plc. for $21 million. The Company also stated that its cash position, including the sale proceeds, but excluding approximately $25M of auction rate securities at fair value, totals approximately $70 million.
For more information:
Robert Bowen
GSI Group Inc.
+1-781-266-5643
Source: GSI Group Inc.
Web site: http://www.gsig.com/
