GSI Restructuring Laser Unit

In a cost-cutting move, GSI Group Inc., a maker of precision motion products, lasers and laser systems, announced it is restructuring its Rugby, UK-based laser business and will move all volume manufacturing of its legacy laser products to the UK and to former Excel Technology laser manufacturing sites.

The Rugby team will focus on advanced laser development and on production of GSI's newest fiber laser products. The team will relocate from its existing building to a more appropriate facility in the Rugby area, the company said.

The restructuring is expected to cost approximately $6.3 million and be completed by the end of 2009. It will generate annual pre-tax savings in the range of $2 to $3 million, GSI said.

For more information, visit: www.gsig.com