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ATS Industrial Automation is a global leader integrator for EV battery, fixed energy storage, E-commerce packaging, electronic product assembly, and testing automation. Our customers are weary of production problems and want high-volume, high-speed capabilities so that they can deliver a quality product, on-time, and on-budget. With expertise in battery assembly, welding, vision, and process automation, ATS Industrial Automations provides the best route to scale their business. Our custom systems are modular and provide capabilities that enable the switching of products within the same production line. When every day matters, ATS Industrial Automation turns today’s innovation and automated processes into tomorrow’s reality.

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ATS Provides Update on Investment in Working Capital

POSTED 01/04/2016

CAMBRIDGE, ON /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced an update to previous disclosure regarding its investment in non-cash working capital. As previously disclosed, during the first two quarters of fiscal 2016 the Company increased its investment in non-cash working capital by approximately $68 million.

The Company does not expect to make significant progress against its goal of reducing its overall investment in non-cash working capital, both in absolute terms and as a percentage of revenues, in its fiscal third quarter ending December 27, 2015. Over time, the Company's goal remains to operate its investment in non-cash working capital as a percentage of annualized revenue at a level below 15%.

The Company expects that continued cash flows from operations, together with cash and cash equivalents on hand and credit available under operating and long-term credit facilities, will be sufficient to fund its requirements for investments in working capital and capital assets and to fund strategic investment plans including some potential acquisitions. This is only an update on the Company's investments in non-cash working capital and working capital levels. The Company's financial results for the third quarter ended December 27, 2015, including its complete Interim Consolidated Statement of Cash Flows are expected to be released on February 3, 2016.

About ATS
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 25 manufacturing facilities and 51 offices in North America, Europe, Southeast Asia and China.

Company Contacts
Maria Perrella - Chief Financial Officer
Carl Galloway - Vice-President, Treasurer
Tel: 519-653-6500

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