CAMBRIDGE, ON, April 21, 2020 /CNW/ - ATS Automation
Tooling Systems Inc. (TSX: ATA), an industry-leading automation
solutions provider ("ATS" or the "Company"), today announced it has
received a $65 million Order Booking
from Tessy Plastics to design, build and deliver two automated
manufacturing systems within the next four months. The program is
expected to enable the production of 10 million units per month of
critical components for point-of-care testing kits that can be used
to detect COVID-19.
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"Our teams have been hyper-focused on helping manufacturers
address the critical need for medical equipment brought on by the
COVID-19 pandemic," said Andrew
Hider, Chief Executive Officer of ATS. "ATS' involvement in
this critical program for Tessy Plastics brings forward our
significant capabilities in life sciences coupled with our ability
to quickly enable manufacturers to scale production at the highest
levels of quality demanded in the medical device industry. I am
very proud of the way our teams have optimized resourcing across
the ATS global footprint to meet an aggressive delivery schedule
that will quickly bring these urgently-needed test kits to the
medical community."
About Tessy Plastics
Founded in 1973, Tessy Plastics
is a global contract manufacturer headquartered in Skaneateles, New York, specializing in
injection molding and custom automated assembly solutions. We have
facilities in New York,
Virginia, Pennsylvania, and China. All of our facilities are FDA/GMP
compliant and add up to more than 1.6 million square feet,
including 135,000 square feet of ISO Class 7 & 8 clean room
manufacturing. Through comprehensive engineering and research &
development, we provide superior quality and speed to market.
Contributing to both Medical and Consumer markets allows us to
leverage our expertise over a wide range of products. Our
capabilities include everything from product concept development
and prototyping to manufacturing, packaging, and global
distribution. For more information, visit www.tessy.com.
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 4,500 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.
Note to Readers:
Non-IFRS Measures:
Order Bookings is a non-IFRS measure and does not have any
standardized meaning prescribed within IFRS and therefore may not
be comparable to similar measures presented by other companies.
Such measures should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with
IFRS. Additional information on non-IFRS measures can be found in
the Company's MD&A on SEDAR or on the Investor's section of the
Company's website.
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 are 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. Forward-looking statements relate to, among other
things, the announcement of a new Order Booking; the anticipated
timeline for delivery. The risks and uncertainties that may affect
forward-looking statements include, among others: the progression
of COVID-19 and its impacts on the Company's ability to operate its
assets, including the possible shut-down of facilities due to
COVID-19 outbreaks; the severity and duration of the COVID-19
pandemic in all jurisdictions where the Company conducts its
business; the nature and extent of government imposed restrictions
on travel and business activities and the nature, extent, and
applicability of government assistance programs, in both cases
related to the COVID-19 pandemic, as applicable in all
jurisdictions where the Company conducts its business; the impact
of the COVID-19 pandemic on the Company's employees, customers, and
suppliers; the impact of the global economy and general market
performance; that the timing of completion of the enterprise
program is other than as expected due to various reasons, including
schedule changes or COVID-19 pandemic related factors; the customer
exercising any right to terminate the program in whole or in part
prior to its completion, thereby preventing ATS from realizing on
the full benefit of the program; management effectiveness and
disaster response preparedness, including business continuity plans
in response to COVID-19; that one or more customers, or other
entities with which the Company has contracted, experience
insolvency or bankruptcy with resulting delays, costs or losses to
the Company; political, labour or supplier disruptions; risks
relating to legal proceedings to which ATS is or may become a
party; exposure to product and/or professional liability claims;
and other risks detailed from time to time in ATS' filings with
Canadian provincial securities regulators. There can be no
assurance that forward-looking statements or information will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
you should not place undue reliance on the forward-looking
statements or information contained herein which speak only as of
the date they are made. 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.