CAMBRIDGE, ON, Feb. 29, 2016 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company") today
announced it has received an enterprise Order Booking from a North
American-based customer that is a global leader in its market. ATS
has provided innovative core manufacturing solutions to the
customer for a number of years.
The Order Booking is valued at approximately U.S. $100 million and involves delivery and
installation of systems at several locations that will enable the
customer to roll out a new global product. Multiple ATS divisions
will be involved with delivery and the period of performance is
expected to be approximately six quarters. Further details
regarding the customer and the Order Booking cannot be provided due
to confidentiality obligations and commercial considerations.
"This Order Booking is a reflection of ATS's growth strategy of
providing comprehensive, value-based enterprise manufacturing
systems for customers built on differentiating technological
solutions and global capabilities," said Anthony Caputo, Chief Executive Officer. "It
represents the culmination of months of collaboration between the
customer and ATS teams and marks the continuation of a relationship
that has produced many successful outcomes."
About ATS
ATS is an industry-leading automation solutions provider to many
of the world's most successful companies. ATS uses its extensive
knowledge base and global capabilities in custom automation, repeat
automation, automation products and value-added services including
pre-automation and after-sales services to address the
sophisticated manufacturing automation systems and service needs of
multinational customers in markets such as life sciences,
chemicals, consumer products, electronics, food, beverage,
transportation, energy, and oil and gas. Founded in 1978, ATS
employs approximately 3,500 people at 24 manufacturing facilities
and over 50 offices in North
America, Europe,
Southeast Asia and China.
Note to Readers:
Non-IFRS Measures:
Order Bookings is a non-IFRS measure and does not have a
standardized meaning prescribed within IFRS and therefore may not
be comparable to similar measures presented by other companies.
Order Bookings represent new orders for the supply of automation
systems, services and products that management believes are firm.
Order Bookings provides an indication of the Company's ability to
secure new orders for work during a specified period and is an
indicator of future revenues the Company expects to generate based
on contracts that management believes to be firm.
Forward Looking Statements:
This news 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 expected period of performance. The risks
and uncertainties that may affect forward-looking statements
include, among others: impact of the global economy and general
market performance; that the performance period is other than
expected due to reasons, including schedule changes; 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 other than as required by applicable
securities laws, ATS does not undertake any obligation to update
forward-looking statements should assumptions related to these
plans, estimates, projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.