CAMBRIDGE, ON, Dec. 21, 2016 /CNW/ - Bruce Power has signed a
multi-year master tooling agreement with ATS Automation Tooling
Systems Inc.(TSX: ATA) for the supply of automated tooling systems
and related services for Bruce Power's Life-Extension Program.
This program will ensure Bruce Power nuclear continues to
provide low-cost electricity for families and business for years to
come. Bruce Power supplies 30 per cent of Ontario's energy at 30 per cent less than the
average residential price.
The agreement will bring major long-term economic benefits to
the province as Bruce Power advances its multi-year investment
program. This is a long-term agreement with initial orders valued
at approximately $40 million, and the
potential for future orders related to the Bruce Power Life
Extension program.
"We are pleased to expand our relationship with Bruce Power
through a multi-year enterprise supply agreement that is central to
Bruce Power's Life Extension Program," said Anthony Caputo, CEO, ATS Automation. "We
are committed to the on-time, on-budget success of this very
important nuclear refurbishment program."
Under this agreement, ATS will apply its innovative
manufacturing methodologies and knowledge of the nuclear industry
to assist Bruce Power in meeting its goals. ATS's relationship with
Bruce Power has included co-development of The Bruce Reactor
Inspection and Maintenance System (BRIMS) system.
The agreement names ATS as a supplier for strategic tooling
services including key reactor tooling systems for the removal of
fuel channels for Bruce Power's long-term investment program. The
program includes the life extension of six units announced last
December. Since the Bruce Power Refurbishment Agreement took
effect January 1, 2016 enabling
operation through 2064, it remains on time and on budget.
"This provides us with a strong and innovative industry partner
for a program that will continue to create jobs and enhance
Ontario's energy infrastructure,"
said Mike Rencheck, Bruce Power's
President and CEO. "While we are planning for the long term,
collaboration with strong and diverse partners today will help us
deliver our program. We believe this agreement will be the
foundation for a long-standing arrangement with ATS as we work to
successfully invest in our units, and continue to provide
Ontario families and businesses
low-cost power."
Hon. Kathryn McGarry,
Ontario's Minister of Natural
Resources and Forestry and the MPP for Cambridge, said low-cost, clean, reliable
nuclear power is a key component of the province's electricity
system and will help Ontario meet
its climate change targets while keeping the air clean.
"As Bruce Power extends the lives of its nuclear reactors, the
long-term partnership with ATS, a global leader in automation
headquartered in Ontario, will
leverage innovative technologies and experience to improve safety
and efficiency in our nuclear power operations," said Minister
McGarry. "This partnership will help to drive our economy forward
and is focused on collaboration to sustain Bruce as one of the
lowest cost electricity providers in Ontario."
Ian Howcroft, Vice President of
the Ontario Division of Canadian Manufacturers & Exporters,
said the life extension of the Bruce units will ensure a steady
supply of low-cost electricity, allowing Ontario manufacturers to remain competitive
and strong.
"Bruce Power and the low-cost, stable electricity it provides
Ontario is part of the solution
over both the short and long term," Howcroft said. "One of the
biggest issues we hear about is the need for low-cost electricity
and that's what Bruce Power delivers."
Bryan May, Member of Parliament
for Cambridge, praised the
announcement and welcomed the benefits the nuclear industry brings
to Cambridge.
"This agreement is terrific news for Cambridge as Bruce Power extends it nuclear
reactor life," said May. "ATS is an important part of our local
community, and their success makes us all stronger. This
partnership is in keeping with the great work that ATS has always
done, and I look forward to their long-term collaboration with
Bruce."
About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in
Bruce County, Ontario. We are
powered by our people. Our 4,200 employees are the foundation of
our accomplishments and are proud of the role they play in safely
delivering clean, reliable, low-cost nuclear power to families and
businesses across the province. Bruce Power has worked hard to
build strong roots in Ontario and
is committed to protecting the environment and supporting the
communities in which we live. Learn more at www.brucepower.com and
follow us on Facebook, Twitter, LinkedIn, Instagram and
YouTube.
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 23
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.
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 future orders
related to the Bruce Power Life Extension program. The risks and
uncertainties that may affect forward-looking statements include,
among others: impact of the global economy and general market
performance; that the customer changes its plans in relation to the
program; that ATS fails to win any potential bid to provide
additional tooling systems or other equipment; 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.
For updated Bruce Power photos and b-roll video, please visit
our Media Kit page
SOURCE ATS Automation Tooling Systems Inc.