CAMBRIDGE, ON, Sept. 12, 2018 /CNW/ - ATS Automation
Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today
announced it has received an Order Booking from a global automotive
manufacturer for a fully automated battery assembly system.
The total enterprise program is valued at approximately CAD
$80 million, $7.6 million of which was received and recorded
in Order Bookings for the first quarter of fiscal 2019. The full
Order Bookings include design, build, installation and
post-delivery support, including training, for a turnkey battery
assembly system. The system will perform a critical role in
supporting the customer's competitive entry into the electric
vehicle (EV) market.
"ATS' ability to develop a leading technical solution and its
demonstrated EV expertise were key factors in the customer's
decision to award this strategic program to us," said Andrew Hider, Chief Executive Officer. "The
program includes ATS products and proprietary technologies and is
the result of an almost year-long effort in which we worked
alongside the customer's engineering and manufacturing teams during
the development of both the product and the manufacturing
process."
The enterprise program is for a new customer, will involve
three ATS facilities, and is expected
to be delivered over the next two years.
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 a new Order Booking, 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.