ATS Automation completes $50 million bought deal of common shares



    
    /THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT
    INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
    DISSEMINATION IN THE UNITED STATES./

    TSX: ATA
    

    CAMBRIDGE, ON, Jan. 14, 2009 /CNW/ - ATS Automation Tooling Systems Inc.
("ATS") today announced that it has completed a bought deal with a syndicate
of underwriters led by GMP Securities L.P., that included Cormark Securities
Inc., Paradigm Capital Inc., RBC Dominion Securities Inc. and Scotia Capital
Inc.
    ATS has issued 10 million common shares ("Common Shares") at a price of
$5.00 per Common Share, resulting in gross proceeds to ATS of $50 million.
Mason Capital Management, LLC, ATS's largest shareholder, participated in the
offering with the purchase of 2 million Common Shares and now holds
approximately 12% of the outstanding Common Shares.
    The net proceeds of the offering will be used to pursue strategic
opportunities, and for working capital and general corporate purposes.

    
       THE COMMON SHARES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
    SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD WITHIN
     THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS
      ABSENT REGISTRATION OR AN APPLICABLE EXEMPTION FROM U.S. REGISTRATION
                                REQUIREMENTS.
    

    About ATS

    ATS Automation Tooling Systems Inc. provides innovative, custom designed,
built and installed manufacturing solutions to many of the world's most
successful companies. Founded in 1978, ATS uses its industry-leading knowledge
and global capabilities to serve the sophisticated automation systems needs of
multinational customers in industries such as healthcare,
computer/electronics, energy, automotive and consumer products. It also
leverages its many years of experience and skills to fulfill the specialized
automation product manufacturing requirements of customers. Through Photowatt
Technologies, ATS participates in the growing solar energy industry as an
integrated manufacturer of ingots, wafers, cells and modules.
Photowatt-branded products and systems serve businesses, institutions and
homeowners in established and emerging markets. ATS employs approximately
3,100 people at 18 manufacturing facilities in Canada, the United States,
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 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, use of proceeds. The risks and uncertainties that may affect
forward-looking statements include, among others: economic market conditions,
timing and nature of corporate opportunities, future working capital
requirements, 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 ATS does not undertake any obligation to update forward-looking
statements should assumptions related to these plans, estimates, projections,
beliefs and opinions change.

    %SEDAR: 00002017E




For further information:

For further information: Maria Perrella, Chief Financial Officer, Carl
Galloway, Vice-President, Treasurer, (519) 653-6500


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890