ATS Receives Order for COVID-19 Vaccine Syringe Manufacturing Line, Introduces Symphoni™
CAMBRIDGE, ON /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today announced it has received a $20 million Order Booking from a medical device manufacturer to design, build, and deliver several automated safety syringe manufacturing systems that will feature the Company's new, high-performance SymphoniTM technology. The program will be completed over the next 10 months and will enable the production of safety syringes to meet potential demand related to COVID-19 vaccine production.
"Our teams remain focused on helping manufacturers address the critical need for medical equipment brought on by the COVID-19 pandemic," said Andrew Hider, Chief Executive Officer of ATS. "ATS' involvement in this critical program highlights our significant capabilities in life sciences and our ability to quickly enable manufacturers to scale production at the highest levels of quality demanded in the medical device industry through advanced technologies including Symphoni, our latest innovation."
This program is related to the US Government's Operation Warp Speed which seeks to increase the ability to produce safety needles and syringes in the United States. This effort is critical to meet anticipated demand as existing supplies are consumed in routine healthcare and to treat the surge of COVID-19 patients. ATS' Symphoni technology is ideal for urgent, time-sensitive programs such as Operation Warp Speed because its standardized, modular construction lends itself to rapid deployment and scalable replication.
ATS' patented Symphoni technology will figure prominently in these syringe manufacturing systems. Symphoni is an innovative, high-performance digital manufacturing technology that multiplies the productivity of automated assembly processes by eliminating non-value-added production time. The high degree of standardization, modular building blocks and plug-and-play nature means Symphoni systems are versatile, multi-purpose production assets, having the flexibility to adapt to new products and new processes throughout their useful life. Because a Symphoni system is digital and 100% programmable, all movements are precisely mapped out and synchronized through a technique known as electronic gearing resulting in a "symphony of motion". Symphoni's disruptive combination of high-speed, high-precision, and configurable flexibility heralds a revolution in automated assembly. It perfectly meets the manufacturing demands of high-volume consumables such as syringes because it assembles them at very high rates in a compact footprint while assuring compliance to the medical device industry's rigid quality standards.
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 aftersales 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 4,400 people at 22 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: 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' 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, the announcement of a new Order Booking; the anticipated timeline for completion; and Company's new SymphoniTM technology. 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; that the Company's new technology does not achieve wide-spread market acceptance or otherwise performs other than as expected; 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.