CAMBRIDGE, ON, Sept. 7, 2016 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced it
has received an enterprise Order Booking from an industry leading
North American-based medical device company for the highly
automated manufacturing of their innovative drug delivery
device.
The Order Booking is valued at approximately CAD $40 million and includes the design, delivery and
installation of a new manufacturing system which is based on ATS's
proprietary technology. This unique technology facilitates high
volume and reliable manufacturing requirements in a compact
footprint. The Order Booking has been made under a master
agreement which provides the framework for an additional potential
follow-on order depending on the success of the customer's
product.
"This Order Booking further reflects 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. "We
appreciate the trust this new customer has placed with ATS and look
forward to a long term relationship with a market leader."
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. 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:
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 potential for a follow-on order. The risks
and uncertainties that may affect forward-looking statements
include, among others: impact of the global economy and general
market performance; degree of success of the customer's product in
the market; degree of success of the manufacturing system and the
customer's manufacturing strategy; 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.