GSI Group plans to restructure its UK laser business

GSI Group Inc., a Bedford supplier of precision technology to such customers as life sciences and industrial companies, said it plans to relocate all volume manufacturing of its legacy laser products from the United Kingdom to other company laser manufacturing sites.

Aimed at improving profitability, the move should yield "greater economies of scale and synergies" with the company's new Excel Technology businesses, GSI said.

The GSI team at the company's site in Rugby, England, will "focus on advanced laser development and on production of GSI's newest fiber laser products," the company said.

For the fourth quarter of 2008, GSI said it expects to book a pre-tax restructuring charge of approximately $4.9 million.

To read the company's press release, please click here.
(By Chris Reidy, Globe staff)