ATS Provides Innovative Nuclear Decommissioning Solution to Holtec International
CAMBRIDGE, ON /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today provided an update on its innovative nuclear decommissioning program for Holtec International, a diversified energy technology company and new ATS customer. The Order Booking was received in ATS' third quarter of fiscal 2021 and is expected to be delivered over the next 9 months.
ATS' scope of work includes the design, build and test of specialized tooling equipment to support the decommissioning of retired nuclear plants in Holtec's U.S. based fleet. The equipment is critical to the safe and efficient decommissioning of a nuclear power plant and will be tested underwater at ATS' full-scale mock-up test facility. Included in the Order Booking is customer training in the use of these sophisticated tools.
"This highly strategic program for an industry leader in nuclear decommissioning builds on our decades-long track record in providing automated systems for safely dismantling reactors," said Andrew Hider, CEO of ATS. "We look forward to delivering this important project and building our nuclear decommissioning business in the United States and globally," added Narinder Bains, General Manager at ATS Industrial Automation.
"We pride ourselves on being A Generation Ahead by Design, which in practical terms means meeting the emerging needs of the energy industry through innovation," said PK Chaudhary, Holtec's Senior Vice President of Operations. "One of those needs is decommissioning, which is a sophisticated and time-consuming activity requiring the best people, planning, processes and equipment. We chose ATS to assist us because of their demonstrated nuclear industry expertise and technology, and their ability to develop a low-risk, innovative and modular solution."
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 4,200 people at 20 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.
About Holtec International
Holtec International is a privately held technology company with operation centers in Florida, New Jersey, Ohio and Pennsylvania in the U.S., and globally in Brazil, Canada, India, Japan, Mexico, South Africa, Spain, U.K. and Ukraine. Holtec has played a preeminent role since the 1980s by expanding wet spent fuel storage capacity at over 110 reactor units in the U.S. and abroad. Over 130 nuclear units worldwide rely on Holtec's technology for spent fuel storage and transportation. Holtec develops and implements innovative solutions to overcome technical challenges faced by its clients around the world. HI-STORE, the world's first below-ground Consolidated Interim Storage Facility, is currently undergoing licensing in New Mexico. Holtec's SMR-160, a 160-Megawatt small modular reactor, will provide safe, secure, dependable, affordable and carbon-free power even in the world's most arid regions. Holtec is also a major supplier of special-purpose pressure vessels and critical-service heat exchange equipment such as air-cooled condensers, steam generators, feedwater heaters, and water-cooled condensers. As a fully integrated supplier, Holtec possesses in-house capabilities to design, engineer, analyze, license, fabricate and construct these technologies.
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' 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 are 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. Forward-looking statements relate to, among other things, an update with respect to an Order Booking; the anticipated timeline for delivery. The risks and uncertainties that may affect forward-looking statements include, among others: the progression of COVID-19 and its impacts on the Company's ability to operate its assets, including the possible shut-down of facilities due to COVID-19 outbreaks; the severity and duration of the COVID-19 pandemic in all jurisdictions where the Company conducts its business; the nature and extent of government imposed restrictions on travel and business activities and the nature, extent, and applicability of government assistance programs, in both cases related to the COVID-19 pandemic, as applicable in all jurisdictions where the Company conducts its business; the impact of the COVID-19 pandemic on the Company's employees, customers, and suppliers; the impact of the global economy and general market performance; that the timing of completion of the program is other than as expected due to various reasons, including schedule changes or COVID-19 pandemic related factors; the customer exercising any right to terminate the program in whole or in part prior to its completion, thereby preventing ATS from realizing on the full benefit of the program; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; that one or more customers, or other entities with which the Company has contracted, experience insolvency or bankruptcy with resulting delays, costs or losses to the Company; political, labour or supplier disruptions; risks relating to legal proceedings to which ATS is or may become a party; exposure to product and/or professional liability claims; and other risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. There can be no assurance that forward looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein which speak only as of the date they are made. 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.