GSI Lumonics Sells Xymark Laser Coding Unit
KANATA, Ontario, Canada, June 9 -- GSI Lumonics Inc. has sold its package coding business, based in Hull, UK, to Linx Printing Technologies plc. Linx Printing Technologies is a UK manufacturer of continuous ink jet printers. Linx acquired the operating assets of the business from GSI Lumonics for $8.9 million (US).
We are pleased to have found a strategic buyer for the package coding business who will continue to grow the business and retain the employees, said Charles Winston, president & CEO of GSI Lumonics. This sale is consistent with our previously announced strategy to exit non-core businesses and devote our resources to growth opportunities in our core markets ofsemiconductor, electronics and automotive.
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