Shareholders Back Merger of GSI and Lumonics

WATERTOWN, Mass., March 18 -- Shareholders of General Scanning Inc. and Lumonics Inc. today voted in favor of resolutions to merge the two companies into one entity: GSI Lumonics Inc. The merger will result in one of the industry's largest suppliers of laser-based manufacturing systems, instrumentation and components.
Because regulatory approvals have already been obtained, the merger is expected to close the week of March 22, 1999. Under terms of the merger, shareholders of General Scanning will exchange each GSI share owned for 1.347 shares of Lumonics. GSI Lumonics will be listed on both the NASDAQ and Toronto Stock Exchanges.