ATS Announces Automation Systems Order Booking
ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced it has received an enterprise Order Booking from an industry leading North American-based medical device company for the highly automated manufacturing of their innovative drug delivery device.
The Order Booking is valued at approximately CAD $40 million and includes the design, delivery and installation of a new manufacturing system which is based on ATS's proprietary technology. This unique technology facilitates high volume and reliable manufacturing requirements in a compact footprint. The Order Booking has been made under a master agreement which provides the framework for an additional potential follow-on order depending on the success of the customer's product.
"This Order Booking further reflects 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. "We appreciate the trust this new customer has placed with ATS and look forward to a long term relationship with a market leader."
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. The Company's shares are traded on the Toronto Stock Exchange under the symbol ATA.
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 potential for a follow-on order. The risks and uncertainties that may affect forward-looking statements include, among others: impact of the global economy and general market performance; degree of success of the customer's product in the market; degree of success of the manufacturing system and the customer's manufacturing strategy; 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.