ATS reports continued strong automation systems order
bookings in second quarter
TSX: ATA
CAMBRIDGE, ON, Sept. 18 /CNW/ - ATS Automation Tooling Systems Inc. today
announced that it has added substantially to its new automation systems order
bookings to date in the second quarter of fiscal 2004.
For the first 11 weeks of this current quarter, which ends September 30,
2003, new automation systems order bookings stood at $112 million, up from $73
million in the first six weeks of the quarter. These new orders were generated
in all of the Company's key markets including automotive, healthcare,
computer-electronics and consumer products.
"The continuation of solid order booking activity in the second quarter
is very encouraging," said Klaus Woerner, ATS President and Chief Executive
Officer, "particularly given the fact that the summer quarter is traditionally
quiet. We believe these results reflect ATS's excellent competitive position
in the marketplace and the strategies we've implemented over the last two
years to enhance our technologies, reinforce our global sales force and expand
our strategic marketing efforts."
Mr. Woerner added that the Company's new order prospect list remains
"very strong, which indicates that ATS could be in line for substantially
renewed growth momentum this fall. With our production capacity intact and new
standard automation technologies in place, we expect to fully capture the
benefits of market renewal and draw these to our bottom line."
ATS will host is 10th annual meeting of shareholders today at Kitchener's
Conestoga College at 4pm eastern time. This news release was issued to enable
the Company to more fully discuss current market conditions with its
shareholders.
Corporate Description
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. 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 3,500 people at 25 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 and
accompanying MD&A, 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