CAMBRIDGE, ON, Dec. 6, 2018 /CNW/ - ATS Automation Tooling
Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an
industry-leading automation solutions provider, today announced
that it has acquired substantially all of the intellectual property
assets of Transformix Engineering Inc. ("Transformix").
Transformix's CNCAssembly system, based on its patented Rapid
Speed Matching ("RSM") technology, provides a method of linking and
synchronizing the movements of devices and tooling to enable faster
and more efficient assembly systems. This enhanced capability is
expected to provide higher speed, lower cost, energy efficient and
more flexible assembly solutions for ATS' customers, while
utilizing a smaller footprint. CNCAssembly is suitable for any
application where high precision motion control is required and can
serve a broad range of end markets.
"The addition of this important technology will complement our
growing portfolio of linear mover technology products, which
includes the best-in-class SuperTrakTM linear motion
system," said Andrew Hider, CEO of
ATS. "Our team is excited to combine ATS' engineering expertise
with the CNCAssembly technology to develop innovative,
market-leading solutions."
Total consideration included $10
million paid upon close from the Company's cash holdings and
a future commission structure designed to align interests. The
integration of Transformix's technology with ATS' is expected to
take up to twelve months and the acquisition is not expected to
have a material impact on the Company's near-term financial
performance.
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 3,900 people at 21
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: Forward-Looking
Statements:
This news release of ATS contains certain statements that may
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: expected benefits of the Transformix technology, the
expected timing of integration of the technology, and impact of
integration on near-term financial performance. The risks and
uncertainties that may affect forward-looking statements include,
among others: risk that the technology does not provide the
expected benefits or that market acceptance is other than expected;
that the technology takes longer to integrate than expected or that
cost of integration exceeds expectations; 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.