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GSI Lumonics Forms Teloptics Business Unit

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KANATA, Ontario, Oct. 30 -- Citing increased demand in the telecommunications optics market, GSI Lumonics Inc. has formed a new business unit specializing in optical switching. The core of the new unit will be based in the company's precision optics operation in Nepean, Ontario. Fourth quarter sales of the precision optics unit will approximate a $28 million annualized run rate, with about 60 percent sold into the telecom optics market, the company said. The new unit will generate more than 10 percent of consolidated GSI Lumonics' sales in 2001, the company said. The company currently...Read full article

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