ATS awarded $11.6 million automation systems project
TSX: ATA
CAMBRIDGE, ON, Feb. 19 /CNW/ - ATS Automation Tooling Systems Inc. today
announced that it has been awarded orders valued at Cdn $11.6 million
(US $7.7 million) from a major multinational, computer-electronics company.
The orders are for the supply of two identical automated production systems
and for field upgrades on a number of similar lines that the customer is
currently operating in different global markets. These assignments are
expected to be completed over the next six months.
"This announcement is important in many respects," said Klaus Woerner,
President and Chief Executive Officer of ATS. "First, this is a large order
for essentially repeat work, that with minimal design, will flow quickly into
our earnings. It takes terrific advantage of ATS capacity and ability to
rapidly scale up activity to serve this customer's needs. Second, this is the
largest project we have won during the past 12 months and it shows that our
efforts to get customers to commit to orders are continuing to produce
benefits. Third, this order comes from the computer-electronics sector, which
is the market which has seen the greatest softness during the past two years,
and is a further indication that conditions may be improving in this important
market for ATS."
The customer's name and further specifics about the orders cannot be
released as a result of customer confidentiality requirements.
About ATS
ATS Automation Tooling Systems Inc. (www.atsautomation.com) is the
industry's leading designer and producer of turn-key automated manufacturing
and test systems, which are used primarily by multinational corporations
operating in a variety of industries including: automotive,
computer/electronics, healthcare, and consumer products. The Company also
makes precision components and sub-assemblies using its own custom-built
manufacturing systems, process knowledge and automation technology. This
includes a line of advanced thermal management devices used by computer
manufacturers to cool high-speed processors. Through Photowatt International
S.A., and Spheral Solar Power Inc., ATS is an emerging leader in the rapidly
growing market for solar energy cells and modules. ATS employs approximately
3,400 people at 28 facilities in Canada, the United States, Europe and
Asia-Pacific. The Company's shares are traded on The Toronto Stock Exchange
under the symbol ATA.
Certain forward looking statements are made in this news release,
including statements regarding possible future business. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of ATS's
products, technologies, customer requirements and other risks detailed from
time to time in ATS's periodic reports filed with Canadian regulatory
authorities.
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For further information: Ron Jutras, Executive Vice President and Chief Financial Officer, (519) 653 6500