CAMBRIDGE, ON, Feb. 29, 2016 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced it has received an enterprise Order Booking from a North American-based customer that is a global leader in its market. ATS has provided innovative core manufacturing solutions to the customer for a number of years.
The Order Booking is valued at approximately U.S. $100 million and involves delivery and installation of systems at several locations that will enable the customer to roll out a new global product. Multiple ATS divisions will be involved with delivery and the period of performance is expected to be approximately six quarters. Further details regarding the customer and the Order Booking cannot be provided due to confidentiality obligations and commercial considerations.
"This Order Booking is a reflection of ATS's growth strategy of providing comprehensive, value-based enterprise manufacturing systems for customers built on differentiating technological solutions and global capabilities," said Anthony Caputo, Chief Executive Officer. "It represents the culmination of months of collaboration between the customer and ATS teams and marks the continuation of a relationship that has produced many successful outcomes."
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 24 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia and China.
Note to Readers:
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'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 expected period of performance. The risks and uncertainties that may affect forward-looking statements include, among others: impact of the global economy and general market performance; that the performance period is other than expected due to reasons, including schedule changes; 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.
SOURCE ATS Automation Tooling Systems Inc.
For further information: Maria Perrella, Chief Financial Officer, 519 653-6500