CAMBRIDGE, ON, June 17,
2022 /CNW/ - ATS Automation Tooling Systems Inc.
(TSX: ATA) ("ATS" or the "Company") today announced its Industrial
Automation business has received an initial Order Booking from an
existing global automotive customer towards fully automated battery
assembly systems for their Canadian and U.S. manufacturing
operations. The order is valued at approximately US$70 million (or approximately C$90 million
at current exchange rates).
This initial order is part of a multi-phase enterprise program
that includes the design, build, and installation of turnkey
battery assembly systems. These systems are critical components of
the customer's electric vehicle (EV) strategy, and further
entrenches ATS' position as being amongst industry leader in this
growing space. The Order Booking will be recorded in the Company's
first quarter of fiscal 2023 and is expected to be delivered over
the next 18 months.
"This booking allows us to continue to leverage our experience
and successful track record in the EV market, and further
demonstrates our ability to deliver solutions to meet the needs of
customers," said Andrew Hider, CEO
of ATS. "With accelerating customer and consumer demand, we are
able to leverage our ATS Business Model and commitment to
continuous improvement to evolve and expand our offerings as
technology and needs continue to change."
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, food
& beverage, transportation, consumer products, and energy.
Founded in 1978, ATS employs over 6,000 people at more than 50
manufacturing facilities and over 75 offices in North America, Europe, Southeast
Asia and China.
Non-IFRS Measures
Order Bookings is a non-IFRS measure and does not have any
standardized meaning prescribed within IFRS and therefore may not
be comparable to similar measures presented by other companies.
Such measures should not be considered in isolation or as a
substitute for measures of performance prepared in accordance with
IFRS. Additional information on non-IFRS measures can be found in
the Company's MD&A on SEDAR or on the Investor's section of the
Company's website.
Forward-looking Statements
This news release contains certain statements that may
constitute forward-looking information within the meaning of
applicable securities laws ("forward-looking
statements"). Forward-looking statements include all
statements that are not historical facts regarding possible events,
conditions or results of operations that ATS believes, expects or
anticipates will or may occur in the future, including, but not
limited to: the announcement of a new Order Booking and the
anticipated timeline for delivery. Such
forward-looking statements are inherently subject to significant
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. Important risks, uncertainties and factors that could
cause actual results to differ materially from expectations
expressed in the forward-looking statements include, but are not
limited to, the duration of the COVID-19 pandemic and its
impact on the Company, its employees, customers,
suppliers and the global economy; impact of regional or global
conflicts; general market performance including capital market
conditions and availability and cost of credit; performance of the
markets that ATS serves; impact of inflation; foreign currency and
exchange risk; the relative strength of the Canadian dollar; impact
of factors such as increased pricing pressure, increased cost of
supplies and delays in relation thereto, and possible margin
compression; the regulatory and tax environment; 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, and other risks
and uncertainties detailed from time to time in ATS' filings with
securities regulators, including, without limitation, the risk
factors described in ATS' annual information form for the fiscal
year ended March 31, 2022, which are
available on the System for Electronic Document Analysis and
Retrieval ("SEDAR") and can be accessed at www.sedar.com. ATS has
attempted to identify important factors that could cause actual
results to materially differ from current expectations, however,
there may be other factors that cause actual results to differ
materially from such expectations.
Forward-looking statements are necessarily based on a number of
estimates, factors and assumptions regarding, among others,
management's current plans, estimates, projections, beliefs and
opinions, the future performance and results of the Company's
business and operations; and general economic conditions and global
events, including the COVID-19 pandemic.
Forward-looking statements included herein are only provided to
understand management's current expectations relating to future
periods and, as such, are not appropriate for any other purpose.
Although ATS believes that the expectations reflected in such
forward-looking statements are reasonable, such statements involve
risks and uncertainties, and ATS cautions you not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date they are made. ATS does not undertake any obligation
to update forward-looking statements contained herein other than as
required by law.
SOURCE ATS Automation Tooling Systems Inc.