Advanced Imaging

AdvancedImagingPro.com

   

Industry News

Updated: July 8th, 2008 05:26 PM CDT

GSI Group Announces Large Aerospace Contract

Advertisement
via PRNewswire

BILLERICA, Mass., Nov. 16 /PRNewswire-FirstCall/ -- GSI Group Inc.,(Nasdaq: GSIG) announces the signing of a large aerospace contract with BallAerospace & Technologies Corp. The products sold will be those from thePrecision Motion Division -- particularly space qualified encoders from MicroESystems. Encoders are feedback sensors used for precision motion control inautomated machinery or robotic systems. The total value of this 3 yearcontract is over $6 million.

This is a new segment of the aerospace market for GSI. GSI products havelong been used in aerospace such as in the space shuttle, and in other defenseareas like the manufacture of gyroscopes for guided missiles. "We are excitedthat we are opening up new market segments," said Ray Sansouci, Vice Presidentand General Manager of the GSI Group Precision Motion Division. "Ourtechnology is well suited to this sophisticated application. This successputs GSI in an excellent position to pursue a number of other opportunities inthis growth area."

GSI Group's MicroE Systems product line includes precision motion feedbackencoders for multiple industries including OEM machine automation, robotics,motion control, semiconductor and medical industries. This product line alsoincludes specialized ultra-high-performance positioners for the data storagemarket. A key to MicroE System's success is the development of technologyplatforms that can be tailored into derivative products. This allows MicroEto rapidly respond to new applications like this one.

GSI Group Inc. supplies precision motion control products, lasers andlaser-based advanced manufacturing systems to the global medical,semiconductor, electronics, aerospace and industrial markets. The Company'sweb site address is http://www.gsig.com.

Certain statements in this news release may constitute forward-lookingstatements within the meaning of the United States Private SecuritiesLitigation Reform Act of 1995 (the Reform Act), Section 27A of the UnitedStates Securities Act of 1933 and Section 21E of the United States Securitiesand Exchange Act of 1934. These forward-looking statements may relate toanticipated financial performance, management's plans and objectives forfuture operations, business prospects, outcome of regulatory proceedings,market conditions, tax issues and other matters. All statements contained inthis news release that do not relate to matters of historical fact should beconsidered forward-looking statements, and are generally identified by wordssuch as "anticipate," "believe," "estimate," "expect," "intend," "plan" and"objective" and other similar expressions. Readers should not place unduereliance on the forward-looking statements contained in this news release.Such statements are based on management's beliefs and assumptions and oninformation currently available to management and are subject to risks,uncertainties and changes in condition, significance, value and effect. Otherrisks include the fact that the Company's sales have been and are expected tocontinue to be dependent upon customer capital equipment expenditures, whichare, in turn, affected by business cycles in the markets served by thosecustomers. Other factors include volatility in the semiconductor industry,the risk of order delays and cancellations, the risk of delays by customers inintroducing their new products and market acceptance of products incorporatingsubsystems supplied by the Company, similar risks to the Company of delays inits new products, our ability to continue to reduce costs and capitalexpenditures, our ability to focus R&D investment and other risks detailed inreports and documents filed by the Company with the United States Securitiesand Exchange Commission and with securities regulatory authorities in Canada.Such risks, uncertainties and changes in condition, significance, value andeffect, many of which are beyond the Company's control, could cause theCompany's actual results and other future events to differ materially fromthose anticipated. The Company does not, however, assume any obligation toupdate these forward-looking statements to reflect actual results, changes inassumptions or changes in other factors affecting such forward-lookingstatements.

1 2 next

Subscribe to our RSS Feeds