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ATS Receives New Automation Systems Order Booking in the Electric Vehicle Market
ATS Automation Posted 09/12/2018
CAMBRIDGE, ON - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced it has received an Order Booking from a global automotive manufacturer for a fully automated battery assembly system.
The total enterprise program is valued at approximately CAD $80 million, $7.6 million of which was received and recorded in Order Bookings for the first quarter of fiscal 2019. The full Order Bookings include design, build, installation and post-delivery support, including training, for a turnkey battery assembly system. The system will perform a critical role in supporting the customer's competitive entry into the electric vehicle (EV) market.
"ATS' ability to develop a leading technical solution and its demonstrated EV expertise were key factors in the customer's decision to award this strategic program to us," said Andrew Hider, Chief Executive Officer. "The program includes ATS products and proprietary technologies and is the result of an almost year-long effort in which we worked alongside the customer's engineering and manufacturing teams during the development of both the product and the manufacturing process."
The enterprise program is for a new customer, will involve three ATS facilities, and is expected to be delivered over the next two years.
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 3,800 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.