BILLERICA, Mass., Nov. 16 /PRNewswire-FirstCall/ -- GSI Group Inc.,
(Nasdaq: GSIG) announces the signing of a large aerospace contract with Ball
Aerospace & Technologies Corp. The products sold will be those from the
Precision Motion Division -- particularly space qualified encoders from MicroE
Systems. Encoders are feedback sensors used for precision motion control in
automated machinery or robotic systems. The total value of this 3 year
contract is over $6 million.
This is a new segment of the aerospace market for GSI. GSI products have
long been used in aerospace such as in the space shuttle, and in other defense
areas like the manufacture of gyroscopes for guided missiles. "We are excited
that we are opening up new market segments," said Ray Sansouci, Vice President
and General Manager of the GSI Group Precision Motion Division. "Our
technology is well suited to this sophisticated application. This success
puts GSI in an excellent position to pursue a number of other opportunities in
this growth area."
GSI Group's MicroE Systems product line includes precision motion feedback
encoders for multiple industries including OEM machine automation, robotics,
motion control, semiconductor and medical industries. This product line also
includes specialized ultra-high-performance positioners for the data storage
market. A key to MicroE System's success is the development of technology
platforms that can be tailored into derivative products. This allows MicroE
to rapidly respond to new applications like this one.
GSI Group Inc. supplies precision motion control products, lasers and
laser-based advanced manufacturing systems to the global medical,
semiconductor, electronics, aerospace and industrial markets. The Company's
web site address is http://www.gsig.com.
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 (the Reform Act), Section 27A of the United
States Securities Act of 1933 and Section 21E of the United States Securities
and 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" and
"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 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.
GSI-G
For more information:
Raymond Ruddy
GSI Group Inc.
+1-978-439-5511
Ext. 6170
SOURCE GSI Group Inc.
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Company News On-Call:
http://www.prnewswire.com/comp/107189.html
Related links:
http://www.gsig.com
CONTACT:
Raymond Ruddy of GSI Group Inc.,
+1-978-439-5511, ext. 6170
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