CAMBRIDGE, ON, June 29, 2018 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company") an
industry-leading automation solutions provider, today announced the
receipt of new enterprise Order Bookings from Bruce Power valued at
approximately CAD $60 million. ATS
was selected by Bruce Power to design and deliver innovative
automated reactor component removal tools for their Major Component
Replacement (MCR) project. ATS' solutions will enable Bruce Power
to safely and efficiently remove and replace each reactor's 480
fuel channels and calandria tubes to update the reactors for
continued safe and long service.
The added Order Bookings are expected to be delivered over the
next six quarters. This new program includes detube production
removal tools, rigorous enhanced testing, and the provision of
spare replacement parts for the removal tools and is a follow-on to
the original Bruce Power Life Extension Program announced in
December 2016.
"The addition of these new Order Bookings demonstrates the
strategic value that ATS brings to Bruce Power," said Andrew Hider, ATS Chief Executive Officer. "ATS'
uncompromising commitment to the highest safety and quality
standards, extensive knowledge of the nuclear industry, proven
automation methodologies, and intense customer focus are the
reasons why customers, such as Bruce Power, repeatedly choose
ATS."
The original agreement named 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 December 2016. ATS'
long-standing relationship with Bruce Power has also included
co-development of The Bruce Reactor Inspection and Maintenance
System (BRIMS) system.
Supporting Bruce Power's MCR Program
ATS is supporting Bruce Power's MCR program by designing and
supplying all of the automation equipment required to remove the
irradiated reactor components including the fuel channels,
calandria tubes and calandria tube inserts. There are multiple
systems required to remove the components; all are highly automated
and controlled remotely. This equipment has been designed to
maximize safety during the removal process while optimizing
operational resources. To this end, ATS will test the automation
equipment in its new MCR Integration Facility in Cambridge that has geometries and interfaces
identical to the actual Bruce Power reactor vault. "By forming
partnerships with key suppliers, such as ATS, we are innovating and
creating advanced robotics while securing Made in Ontario solutions for the components we will
need to successfully complete our Major Component Replacement (MCR)
projects and for Ontario companies
to successfully compete at a global level," said Mike Rencheck, Bruce Power's President and
CEO.
The Bruce Power MCR will begin in Unit 6 in 2020, followed by
Units 3 through 8, extending the life of the site to 2064. Bruce
Power's Life-Extension Program, which includes Asset Management and
MCR, began on Jan. 1, 2016, and
remains on time and on budget.
"By extending the life of the site, Bruce Power will create and
sustain 22,000 jobs annually, both directly and indirectly, across
the province, while also delivering 30 per cent of Ontario's electricity at 30 per cent less than
the average cost to generate residential power. At Bruce Power, we
power more for less," Rencheck said.
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 3,800 people at 20
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'
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 announcement of new Order Bookings, and the
anticipated timeline for program delivery. The risks and
uncertainties that may affect forward-looking statements include,
among others: impact of the global economy and general market
performance; that the timing of completion of the enterprise
program is other than expected due to reasons, including schedule
changes; the customer exercising any right to terminate the program
in whole or in part prior to its completion, thereby by not
allowing ATS to realize the full benefit of the program; and other
risks detailed from time to time in ATS' 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.