ATS awarded $43 million order from healthcare leader
TSE Symbol: ATA
CAMBRIDGE, ON, Nov. 9 /CNW/ - ATS Automation Tooling Systems Inc. today announced it has been awarded an order valued at approximately US$29 million (CDN $43 million) to supply an automated system for a leading global healthcare company. ATS will design, build and install the automated system for this first-time ATS customer over the next two years.
In commenting on the new business, ATS President and Chief Executive Officer Klaus Woerner said: "This award is the beginning of what will be a long-term strategic relationship with a very large and highly regarded international company and a new ATS customer. It is the largest single automation order ever for ATS and it clearly establishes our leadership position in the automation industry. The award is also the second very large order we have announced in the healthcare market in the last five months and adds significantly to our already record high automation systems order bookings and backlog. We believe automation can be central to the healthcare industry's drive to enhance efficiency and lower production costs. This is a natural market for automation and we are very pleased that our diversification efforts are meeting with strong customer acceptance."
Mr. Woerner added that his Company's track record of innovation, depth and breadth of experience, project management resources, overall size and financial strength - combined with endorsements from existing customers - were "among the key reasons the customer chose ATS. We think all of these attributes combined position our Company to be the supplier of choice for these types of sizeable and complex projects."
ATS Automation Tooling Systems Inc. (Internet website address: www.atsautomation.com) is North America'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: automotive, computer/electronics, consumer products and healthcare. The Company also makes precision components and sub-assemblies using its own custom-built manufacturing systems, process knowledge and automation technology. ATS employs approximately 2,500 people at 21 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' products, technologies, customer requirements and other risks detailed from time to time in ATS' periodic reports filed with Canadian regulatory authorities.
For further information:
Ron Jutras, Chief Financial Officer
(519) 653 6500