BILLERICA, Mass., June 4 /PRNewswire-FirstCall/ -- 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.
Safe Harbor
Certain statements in this news release may constitute forward-looking
statements within the meaning of the United States Private Securities
Litigation Reform Act of 1995, Section 27A of the United States Securities
Act of 1933 and Section 21E of the United States Securities Exchange Act of
1934. These forward-looking statements may relate to anticipated financial
performance, management's plans and objectives for future operations,
business prospects, outcome of regulatory proceedings, market conditions,
tax issues and other matters. All statements contained in this news release
that do not relate to matters of historical fact should be considered
forward-looking statements, and are generally identified by words such as
"anticipate," "believe," "estimate," "expect," "intend," "plan,"
"objective" and other similar expressions. Readers should not place undue
reliance on the forward- looking statements contained in this news release.
Such statements are based on management's beliefs and assumptions and on
information currently available to management and are subject to risks,
uncertainties and changes in condition, significance, value and effect.
Other risks include the fact that the Company's sales have been and are
expected to continue to be dependent upon customer capital equipment
expenditures, which are, in turn, affected by business cycles in the
markets served by those customers. Other factors include volatility in the
semiconductor industry, the risk of order delays and cancellations, the
risk of delays by customers in introducing their new products and market
acceptance of products incorporating subsystems supplied by the Company,
similar risks to the Company of delays in its new products, our ability to
continue to reduce costs and capital expenditures, our ability to focus R&D
investment and integrate acquisitions and other risks detailed in reports
and documents filed by the Company with the United States Securities and
Exchange Commission and with securities regulatory authorities in Canada.
Such risks, uncertainties and changes in condition, significance, value and
effect, many of which are beyond the Company's control, could cause the
Company's actual results and other future events to differ materially from
those anticipated. The Company does not, however, assume any obligation to
update these forward-looking statements to reflect actual results, changes
in assumptions or changes in other factors affecting such forward-looking
statements.
Contact: Raymond Ruddy, Investor Relations of GSI Group, +1-978-439-5511
ext. 6170
SOURCE GSI Group
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Related links:
http://www.gsig.com
http://www.prnewswire.com/comp/107189.html/
CONTACT:
Raymond Ruddy, Investor Relations of GSI
Group, +1-978-439-5511 ext. 6170
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