CAMBRIDGE, ON, Dec. 17, 2018 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today announced it has received an enterprise Order Booking from a global life sciences customer.
The Order Booking is valued at approximately CAD $60 million and includes design, delivery and installation of two turnkey, fully automated manufacturing and packaging systems. The program is for a current customer and will incorporate a number of ATS proprietary technologies and products. The systems will be built and delivered over the next 30 months.
"This Order Booking follows on our successful relationship with a market leader in life sciences and gives ATS the opportunity to deploy its capabilities to deliver innovative, high quality automation solutions," said Andrew Hider, CEO of ATS. "We look forward to executing on a critical program for this important customer."
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:
Non-IFRS Measures: 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 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: the announcement of a new Order Booking, the anticipated timeline for program delivery and deployment of ATS capabilities. The risks and uncertainties that may affect forward-looking statements include, among others: the impact of the global economy and general market performance; that the timing of completion or content of the enterprise Order Booking is other than expected due to schedule or scope changes or other factors; the customer exercising any right to suspend or terminate the program in whole or in part prior to its completion, thereby delaying or impairing ATS's ability to realize the full benefit of the program; 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.
For further information: Sonya Mehan, Director, Investor Relations and Corporate Communications; Ryan McLeod, Vice President, Corporate Controller, 519-653-6500