ATS ANNOUNCES REDUCTION OF WORKDAYS PROGRAM AT PHOTOWATT FRANCE
For Immediate Release
Cambridge, Ontario (October 28, 2011): ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS”) today announced that its Photowatt France subsidiary is implementing a “reduction of workdays program” in response to lower demand for solar modules and systems. As a result, the solar manufacturing facility in Bourgoin-Jallieu, France will be operating at approximately one-third of its production capacity.
ATS Automation 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 industries such as life sciences, computer/electronics, energy, transportation and consumer products. It also leverages its many years of experience and skills to fulfill the specialized automation product manufacturing requirements of customers. Through Photowatt, ATS participates in the solar energy industry. ATS employs approximately 2,900 people at 21 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.
For more information, contact:
Carl Galloway, Vice-President, Treasurer
Note to Readers: Forward-Looking Statements
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, Photowatt France implementing a reduction of workdays program. The risks and uncertainties that may affect forward-looking statements include, among others, general market performance including capital market conditions and availability of credit; economic market conditions; performance of the market sectors that ATS serves; extent of market demand for solar products, the level of solar module and system orders obtained by Photowatt France, and other risks detailed from time to time in ATS's filings with Canadian provincial securities regulators. 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.