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July 3, 2008
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
GSI Group Inc. announces that it has entered into a definitive agreement to sell its General Optics business unit located in Moorpark, California to Gooch & Housego PLC for $21 Million. General Optics (Moorpark) manufactures super-polished glass and optics for the telecommunications, scientific and defense industries. The sale is expected to close on or before the end of GSI’s third quarter, subject to regulatory approval. GSI Group’s Taunton UK-based beryllium and beryllium optics business is not included in the transaction. Dr. Sergio Edelstein, CEO of GSI Group, said, “This decision is another step in our strategy to focus on our core strategic technologies – lasers and precision motion. The move will enable our company to concentrate our efforts in our main growth areas.”
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