ATS Announces Reduction of Workdays Program at Photowatt France
October 28 2011 - 7:00AM
PR Newswire (Canada)
CAMBRIDGE, ON, Oct. 28, 2011 /CNW/ - ATS Automation Tooling Systems
Inc. ("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.
About ATS 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.
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. ATS Automation Tooling
Systems Inc. CONTACT: Carl Galloway, Vice-President, Treasurer519
653-6500
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