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GSI Lumonics Acquires, Sells Units

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GSI Lumonics Inc. of Kanata, Ontario, Canada, has acquired precision optics manufacturer General Optics Inc. of Moorpark, Calif., for an unspecified cash payment. Meanwhile, it completed the sale of its life sciences business to Packard BioScience Co. of Meriden, Conn., for US $40 million in cash and about 4.6 million shares of Packard stock. The sale and acquisition point to GSI Lumonics' increasing emphasis on products for communications. The company said General Optics' 80 employees offer particular expertise in coating and substrate cleaning. Charles Winston, GSI Lumonics'...Read full article

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    Published: November 2000
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