ATS awarded US$7.7 million order to automate assembly of electronic security devices
TSX: ATA
CAMBRIDGE, ON, July 24 /CNW/ - ATS Automation Tooling Systems Inc. today
announced it has been awarded a US$7.7 million order to design, build and
install an automated, high-volume assembly system for a leading global
provider of advanced electronic security products.
The five-zone manufacturing system, featuring ATS Supertrak(TM)
high-speed conveyance technology, will be built for this first-time customer
primarily at ATS facilities in Tucson, Arizona and Corvallis, Oregon and is
scheduled for delivery in early fiscal 2009 (spring of calendar 2008). The
name of the customer cannot be released due to customer confidentiality.
"We are delighted to have been selected by this customer to participate
in the production of this sophisticated electronic security device," said Ron
Jutras, ATS President and CEO. "This is an exciting project and an excellent
example of how ATS's advanced technology toolkit, our strategic sales focus
and our well-positioned manufacturing operations in the US have combined to
provide us with an entrée into an important new customer account in a growing
niche market. We intend to build on this relationship."
About ATS
ATS Automation Tooling Systems Inc. provides innovative, custom designed,
built and installed manufacturing solutions to many of the world's most
successful companies. Founded in 1978, ATS uses its industry-leading knowledge
and global capabilities to serve the sophisticated automation systems needs of
multinational customers in healthcare, computer/electronics, automotive and
consumer products. It also leverages its many years of repetitive
manufacturing experience and skills to fulfill the specialized repetitive
equipment manufacturing requirements of customers. Through its solar business,
ATS participates in the growing solar energy industry and through its
precision components business it produces, in high volume, precision
components and subassemblies. ATS employs approximately 3,500 people at
24 manufacturing facilities in Canada, the United States, Europe, southeast
Asia and China. The Company's shares are traded on the Toronto Stock Exchange
under the symbol ATA. Visit the Company's website at www.atsautomation.com.
Note to Readers
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable securities laws
("forward-looking statements"). Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of ATS, or developments in ATS's business
or in its industry, to differ materially from the anticipated results,
performance, achievements or developments expressed or implied by such
forward-looking statements. Forward-looking statements include all disclosure
regarding possible events, conditions or results of operations that is based
on assumptions about future economic conditions and courses of action.
Forward-looking statements may also include, without limitation, any statement
relating to future events, conditions or circumstances. ATS cautions you not
to place undue reliance upon any such forward-looking statements, which speak
only as of the date they are made. Forward-looking statements relate to, among
other things, the location and scheduling for this project and ATS's intention
to build upon the relationship. The risks and uncertainties that may affect
forward-looking statements include, among others, unexpected changes to
delivery schedules, including changes due to delays caused by material or
labour shortages and customer change order requests; first time assignment and
production risk; foreign exchange risk; the level of product technology and
price competition for ATS's products; the degree and rate of growth of the
markets in which ATS competes and the accompanying demand for products; risks
associated with rapid technological change and new product introductions;
competition; litigation; product quality; order delays; dependence upon key
employees and the ability to retain employees; execution and implementation
risks of new technology; and other risks detailed from time to time in ATS's
filings with Canadian provincial securities regulators, including ATS's Annual
Information Form and Management's Discussion & Analysis for the fiscal year
ended March 31, 2007. Forward-looking statements are based on management's
current plans, estimates, projections, beliefs and opinions, and ATS does not
undertake any obligation to update forward-looking statements should
assumptions related to these plans, estimates, projections, beliefs and
opinions change.
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For further information: Carl Galloway, Vice President and Treasurer, Gerry Beard, Vice President and Chief Financial Officer, ATS Automation Tooling Systems Inc., (519) 653-6500