GSI Lumonics Acquires Spectron Laser Systems

BILLERICA, Mass., May 9 -- GSI Lumonics announced it has acquired Spectron Laser Systems, a Rugby, England-based subsidiary of Lumenis Ltd., for $6.3 million in cash, subject to adjustment and the assumption of certain liabilities.

Spectron Laser Systems, the industrial business of Lumenis, had a net revenue of approximately $11 million in 2002 and said it expects to report a loss on the sale of approximately $5 million.

GSI Lumonics said the acquisition extends its diode-pumped solid state laser (DPSS) technology and products and its product lines in lamp-pumped solid state (LPSS) and CO2-based technologies. The Spectron lasers will compliment GSI Lumonics' Laser Group's products by expanding applications in the 7 W to 100 W range, primarily for material processing applications such as marking plastics, woods, organics and metals, plastic and diamond cutting, silicon machining and microwelding.

GSI Lumonics has offices in Billerica and Wilmington, Mass., and in Ottawa, Ontario; it supplies precision motion control components, lasers and laser-based advanced manufacturing systems to the global medical, semiconductor, electronics and industrial markets.

The integration of Spectron assets into the Laser Group is scheduled for completion by the end of August.

For more information, visit: www.gsilumonics.com