ATS Photowatt subsidiary wins major order for solar
modules with estimated value of $31 million
TSX: ATA
CAMBRIDGE, ON, March 19 /CNW/ - ATS Automation Tooling Systems Inc. today
announced that its Photowatt subsidiary - one of the world's leading producers
of solar energy - has been awarded a major contract for the supply of
photovoltaic solar modules over the next 12 months with an estimated value of
$31.1 million.
The solar modules will be manufactured and sold by the Company's
Photowatt International S.A. subsidiary located in Bourgoin-Jallieu, France --
just outside of Lyon -- over the next twelve months. The customer is a leading
international solar systems supplier and installer. Shipments will commence
later this month and are expected to be made monthly thereafter through the
balance of the contract term. Shipment dates are subject to renegotiation
under certain circumstances.
"This is an attractive and large contract for Photowatt which
significantly firms up a major portion of our solar revenue targets for fiscal
2004," said Klaus Woerner, President and Chief Executive officer of ATS. "Of
equal importance, this is a new customer for Photowatt, one which is a world
leader in PV solar systems, and there is potential for further revenues
through contract options and extensions into 2004. This contract was won in a
competitive environment and confirms the world class quality of our products
and our production efficiencies gained as a result of the investments ATS has
made in automating Photowatt since we acquired it in 1997."
ATS, the leader in industrial automation, has made a significant
commitment to manufacturing solar energy cells and modules, first through its
Photowatt operations and more recently through Spheral Solar(TM) Power, which
will launch its first products -- based on revolutionary next generation solar
technology -- later this year.
In the trailing 12 months to December 31, 2002, Photowatt produced
revenue of $53.9 million. ATS has increased the annual capacity of Photowatt
from approximately 4 megawatts at acquisition to an estimated 25 megawatts of
global module manufacturing capacity today. This has been achieved through
improved manufacturing throughput and efficiency and by increasing the power
generating efficiency of the company's solar cells. During the past 12 months,
Photowatt has been rapidly increasing its module manufacturing capacity to
better match its solar cell output with the changing requirements of
customers. This contract is expected to be fulfilled with the existing and
previously planned investments for Photowatt.
The contract is for the supply of Photowatt's largest power modules,
model PW 1650. The PW 1650 series modules use Photowatt's multi crystalline
technology. The solar cells are individually characterized and electronically
matched prior to interconnection. Encapsulation beneath high transmission
tempered glass is accomplished using an advanced, UV resistant thermal setting
plastic. The encapsulation, ethylene vinyl acetate, cushions the operating
characteristics of the solar cell under virtually any climatic conditions. The
rear surface of the module is completely sealed from moisture and mechanical
damage by a continuous high strength polymer sheet. The glass/tedlar
construction of the module minimizes weight while providing a durable,
protective environment for the solar cells. The product is configured for
12-24 volt systems operation and bypass diodes are factory fitted as standard.
The module is 42.3 inches wide by 48.3 inches in length, is 1.7 inches thick
and weighs approximately 40 pounds. Peak power is 155 to 175 watts at 4.8 to
10.0 amps depending on series number.
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