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ATS Awarded US$7.7 Million Order to Automate Assembly of Electronic Security Devices
ATS Automation Posted 07/25/2007
CAMBRIDGE, ON, July 24 /CNW/ - ATS Automation Tooling Systems Inc. today announced it has been awarded a US$7.7 million order to design, build and install an automated, high-volume assembly system for a leading global provider of advanced electronic security products.
The five-zone manufacturing system, featuring ATS Supertrak(TM) high-speed conveyance technology, will be built for this first-time customer primarily at ATS facilities in Tucson, Arizona and Corvallis, Oregon and is scheduled for delivery in early fiscal 2009 (spring of calendar 2008). The name of the customer cannot be released due to customer confidentiality.
‘‘We are delighted to have been selected by this customer to participate in the production of this sophisticated electronic security device,’‘ said Ron Jutras, ATS President and CEO. ‘‘This is an exciting project and an excellent example of how ATS's advanced technology toolkit, our strategic sales focus and our well-positioned manufacturing operations in the US have combined to provide us with an entrée into an important new customer account in a growing niche market. We intend to build on this relationship.’‘
ATS Automation Tooling Systems Inc. provides innovative, custom designed, built and installed manufacturing solutions to many of the world's most successful companies. Founded in 1978, ATS uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems needs of multinational customers in healthcare, computer/electronics, automotive and consumer products. It also leverages its many years of repetitive manufacturing experience and skills to fulfill the specialized repetitive equipment manufacturing requirements of customers. Through its solar business, ATS participates in the growing solar energy industry and through its precision components business it produces, in high volume, precision components and subassemblies. ATS employs approximately 3,500 people at 24 manufacturing facilities in Canada, the United States, 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
This press 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 location and scheduling for this project and ATS's intention to build upon the relationship. The risks and uncertainties that may affect forward-looking statements include, among others, unexpected changes to delivery schedules, including changes due to delays caused by material or labour shortages and customer change order requests; first time assignment and production risk; foreign exchange risk; the level of product technology and price competition for ATS's products; the degree and rate of growth of the markets in which ATS competes and the accompanying demand for products; risks associated with rapid technological change and new product introductions; competition; litigation; product quality; order delays; dependence upon key employees and the ability to retain employees; execution and implementation risks of new technology; and other risks detailed from time to time in ATS's filings with Canadian provincial securities regulators, including ATS's Annual Information Form and Management's Discussion & Analysis for the fiscal year ended March 31, 2007. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
For further information:
Carl Galloway, Vice President and Treasurer
Gerry Beard, Vice President and Chief Financial Officer
ATS Automation Tooling Systems Inc.