GSI Lumonics acquires DRC division

GSI Lumonics Inc., a supplier of precision motion control components, lasers and laser-based manufacturing systems, has acquired the principal assets of the Encoder division of Dynamics Research Corp. (DRC). The integration of the Encoder division into GSI Lumonics' Component Products Group is currently scheduled for completion by the end of August, 2003.

"This acquisition is consistent with GSI Lumonics' stated strategy to acquire new technologies and expand into new products complementary with its existing markets," said Charles Winston, GSI Lumonics' CEO and president. "The addition of the Encoder division assets represents the addition of technology and products that expand the Company's offering of precision motion control components."