GSI Lumonics Acquires, Sells Units
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' president and CEO, said that with the acquisition and the recent optics manufacturing expansion in Nepean, Ontario, the company expects to increase communications optics sales to 8 to 10 percent of total sales next year.
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