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GSI Lumonics Inc. (Ontario, Canada) has acquired Westwind Air Bearings Ltd. (UK) from Cobham Plc. for USD $37 million cash. It will become part of GSI Lumonics Ltd. (UK).
Founded in 1965, Westwind was originally a small UK-based manufacturer of dental drills. In 1968, Federal-Mogul Corporation (USA) bought Westwind. The company gradually developed into the world's leading supplier of high-precision, high-speed air bearing and spindle systems. In May 1993, Federal-Mogul sold Westwind to the investment firm Kleinwort Capital (UK). At the time, Westwind's sales were £8.5 million. Kleinwort made strategic investments in Westwind, reorganized and redirected it toward the semiconductor market. In November 1995, with sales topping £26 million, Kleinwort sold Westwind to Cobham for £75 million.
Cobham continued to develop Westwind, cementing its position as the leader in air bearing spindles. The company's fortunes have been up and down through the years, however, tied to the volatile semiconductor industry. In 2001, the company shed 100 workers (25%) from the primary Dorset manufacturing location, shifting some work to other Flight Refuelling operations. In March 2003, Westwind opened new manufacturing and remanufacturing facilities in Suzhou, China. Its products now target not just the semiconductor industry, but also optical scanners and imaging systems for medical and reprographic uses.
Worldwide, Westwind will have 2003 sales of around $31 million, employing approximately 350 people. GSI said it expects Westwind will be accretive to earnings immediately.
GSI Lumonics was created by the 1999 merger of General Scanning Inc. and Lumonics Inc., and operates three business segments: Laser Systems, Components, and Laser Sources. The company manufactures precision motion control components, lasers and laser-based advanced manufacturing systems for the medical, semiconductor, electronics and industrial markets worldwide.
Although GSI's corporate headquarters is in Billerica, Massachusetts, it is formally a Canadian company registered in New Brunswick, Canada. Earlier this year, GSI asked shareholders to approve becoming a formally U.S.-based corporation, but the move was withdrawn due to lack of support.
GSI made two acquisitions earlier in 2003. First, it acquired the Spectron Laser Systems division of Lumenis Ltd. (UK) for approximately USD $6.3 million. Spectron
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| CR20B IKO | 31.75 | 20.4 | |
| CR22BUUR IKO | 34.925 | 20.4 |