GSI Group Announces Acquisition of Thales Optronics Beryllium Business
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GSI Group-Precision Motion Division
39 Manning Rd.
Billerica, MA, 01821
Press release date: June 4, 2007
BILLERICA, Mass., June 4 -- GSI Group Inc., (NASDAQ:GSIG), today announced the purchase of the beryllium mirrors and structures business of UK-based Thales Optronics for an undisclosed amount. The acquisition combines a global leader in the design and manufacture of beryllium mirrors and structures with GSI's existing optical scanning and precision optics product lines. These technologies are used in a variety of high-precision applications in the electronics, telecommunications, and aerospace industries.
Dr. Sergio Edelstein, CEO and President of GSI Group, commented: "Thales Optronics is a leader in advanced scanning mirrors, a critical component of high-performance optical scanners. This acquisition is a great strategic fit that will support the growth of our Precision Technology segment." Dr. Edelstein continued: "The team at Thales Taunton has collaborated with GSI's scanning team on a variety of projects for several years, and both groups know each other well. This acquisition will allow GSI to deliver superior products and technology to GSI customers worldwide."
The acquisition is expected to be slightly accretive to GSI's 2007 net earnings.
GSI Group supplies precision motion control components, lasers and laser- based advanced manufacturing systems to the global medical, semiconductor, electronics, and industrial markets.
Source: GSI Group
CONTACT: Raymond Ruddy, Investor Relations of GSI Group, +1-978-439-5511 ext. 6170
Web site: http://www.gsig.com/