CAMBRIDGE, ON, March 14, 2016 /CNW/ - ATS Automation Tooling Systems
Inc. (TSX: ATA) ("ATS" or the "Company") today announced that Anthony Caputo, the
Chief Executive Officer of the Company, will be leaving the Company in
In connection with this, Mr. Caputo and the Company have entered into a
transition agreement that, among other things, provides for continuity,
an orderly transition of leadership, and that Mr. Caputo may leave
earlier if a transition is completed. Mr. Caputo will remain on the
Board of Directors of ATS throughout the transition. ATS will initiate
a thorough search and selection process for a successor suitable to
lead the Company as it continues to realize on its growth and value
Mr. David McAusland, the Chairman of the Board, commented, "On behalf of
the Board of Directors, I would like to thank Anthony for his
contribution towards building ATS's industry leadership. Anthony and
the Board will work together through the transition period to ensure
that ATS continues its strategy to grow as a provider of enabling
manufacturing solutions for customers across many industries."
Mr. Anthony Caputo stated, "It has been a privilege to help build this
world-class company with a great team. ATS is a global leader with
Fortune 500 customers and extremely talented and committed employees.
ATS is well positioned to continue to execute on its growth and value
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.
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, timing of
departure of the CEO, expectations in relation to the continuity, and
orderly transition of leadership contemplated by the transition
agreement, Mr. Caputo remaining on the Board of Directors throughout
the transition, and the Company's intention to initiate a search and
selection process for a successor suitable to lead the Company. The
risks and uncertainties that may affect forward-looking statements
include, among others: that the CEO departs at a time other than as
currently contemplated; that the transition period evolves other than
as expected; that Mr. Caputo's tenure on the Board is other than what
is contemplated; and that the search process produces results
inconsistent with expectations; 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
SOURCE ATS Automation Tooling Systems Inc.
For further information:
Maria Perrella, Chief Financial Officer