In a release dated Feb. 19, 2003, ATS Automation Tooling Systems, Inc., announced that it has been awarded orders valued at $11.6 million Canadian, or $7.7 million U.S., from a major, multinational, computer-electronics company. The orders are for the supply of two identical automated production systems and for field upgrades on a number of similar lines that the customer is currently operating in different global markets. These assignments are expected to be completed in the coming months.
"This announcement is important in many respects," says Klaus Woerner, president and chief executive officer of ATS. "First, this is a large order for what essentially is repeat work that, with minimal design, will flow quickly into our earnings. It takes terrific advantage of ATS’s capacity and ability to rapidly scale up activity to serve this customer’s needs. Second, this is the largest project we have won during the past 12 months, and it shows that our efforts to get customers to commit to orders are continuing to produce benefits. Third, this order comes from the computer-electronics sector, which is the market which has seen the greatest softness during the past two years, and is a further indication that conditions may be improving in this important market for ATS."
The customer’s name and further specifics about the orders cannot be released as a result of customer confidentiality requirements. ATS is the industry’s leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries including: automotive, computer/electronics, healthcare, and consumer products. The company also makes precision components and sub-assemblies using its own custom-built manufacturing systems, process knowledge and automation technology. This includes a line of advanced thermal management devices used by computer manufacturers to cool high-speed processors.
For more information, please contact Ron Jutras, ATS executive vice president and chief financial officer, at (519) 653-6500, or visit the company’s Web site at www.atsautomation.com.
