GSI Lumonics Announces $12M Order for Automotive Laser Cutting Systems
14 January 2000
GSI Lumonics Announces $12 Million Order for Automotive Laser Cutting SystemsKANATA, Ontario, Jan. 13 -- GSI Lumonics Inc. today announced receipt of an order for $12 million for its modular high-power YAG laser systems from Tower Automotive of Milwaukee, Wis., and Metalsa of Monterrey, Mexico. The new systems will be used to cut hydroformed tubes and complete truck frames for the Daimler Chrysler DR 2002 program. "Tower Automotive did an exhaustive search and compared different laser suppliers. GSI Lumonics was the clear winner," states a Tower spokesperson. DCT of Sterling Heights, Mich., will be the integrator of the entire system. The order was placed in December and the first systems will be installed in April. The full order will be completed by year-end. Tower Automotive and Metalsa ordered the AM153 with GSI Lumonics' new robotic cutting head and a custom cutting head developed by High YAG of Germany. "It was this new technology that closed the sale," said Patrick D. Austin, Vice President of Sales, GSI Lumonics. "A tremendous benefit of this system with the robotic head is the flexibility. It allows the customer to add, delete and move holes where needed." "This represents a strategic sale for GSI Lumonics", states Charles Winston, President and CEO, GSI Lumonics. "It demonstrates our continued commitment to deliver innovative, leading-edge products to meet the ever-increasing demands of the Automotive industry." GSI Lumonics Inc. brings laser-based automated advanced manufacturing systems, instrumentation and components to leading industrial companies worldwide. The Company supplies products and service to the semiconductor, electronics, medical, automotive, aerospace and consumer packaging markets. GSI Lumonics' common shares are listed on Nasdaq and The Toronto Stock Exchange. The Company's web site address is http://www.gsilumonics.com. For further information: Fran Crecco Investor Relations 978-439-5511 (ext: 6104) To the extent this news release discusses financial projections, information or expectations about GSI Lumonics Inc., General Scanning Inc., or Lumonics Inc., products or markets, or otherwise makes statements about the future, such statements are forward looking and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. The factors include the fact that the companies' sales have been and are expected to continue to be dependent upon customer capital equipment expenditures, which are, in turn, affected by business cycles in the markets served by those customers. Other factors include continued volatility in Asia and in the semiconductor industry, the risk of order delays and cancellations, the risk of delays by customers in introducing their new products and market acceptance of products incorporating subsystems supplied by the companies, similar risks to the companies of delays in their new products and other risks detailed in the companies' Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q.