ATS Acquires Reliability Engineering Provider Triad Unlimited LLC
CAMBRIDGE, ON, March 28, 2023 /CNW/ - ATS Corporation (TSX: ATS) ("ATS" or the "Company") announced today that they have acquired Triad Unlimited LLC ("Triad"), a U.S-based reliability engineering service provider to the North American and European markets. The financial terms of the transaction were not disclosed.
Triad will support ATS' after sales and service initiatives that focus on delivering customer value through the highest level of asset performance over the entire lifecycle of installed equipment. With Triad's interconnected asset management framework and properietary Relialytics™ software, this acquisition is expected to enhance ATS' connected-asset value chain and predictive maintenance abilities, in addition to strengthening their reliability engineering capabilities.
"Adding the Triad team and their differentiated offerings will further our unique value proposition and enable us to support customers throughout their equipment's lifecycle," said Simon Roberts, Senior Vice President, After Sales and Services. "Triad's experience and leadership in life sciences, food and beverage, and other key industries offers synergies with both our current and targeted portfolio of customers."
ATS Corporation 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. The Company's common shares are traded on the Toronto Stock Exchange under the symbol ATS. Visit the Company's website at www.atsautomation.com.
Triad Unlimited LLC is a leading reliability engineering services provider to the global market, employing a network of highly skilled asset management practitioners with hundreds of projects completed in a wide range of industries including life science, food and beverage, amongst others. Triad specializes in developing sustainable solutions customized to address customer specific problems or initiatives. Their interconnected Asset Management Framework and proprietary Relialytics™ software differentiates their offering and delivers demonstrable value to customers by giving them the tools and data to effectively manage their assets. Visit Triad's website at www.triadunlimited.com.
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: expectations related to the enhancement of ATS' capability, and the achievement of its value proposition, in its after sales and service initiatives. 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; industry challenges in securing the supply of labour, materials, and, in certain jurisdictions, energy sources such as natural gas, impact of inflation; interest rate changes; foreign currency and exchange risk; the relative strength of the Canadian dollar; recessionary risk; impact of factors such as increased pricing pressure, increased cost of energy and supplies, and delays in relation thereto, and possible margin compression; the regulatory and tax environment; the expectations related to the enhancement of ATS' capability, or in relation to the achievement of its value proposition, in its after sales and service initiataives are not realized as expected, or within the expected timeframe or at all; performance of the market sectors or customer segments that ATS serves; 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 in this news release 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 Corporation
David Galison, Head of Investor Relations, ATS Corporation, 730 Fountain Street North, Cambridge, ON, N3H 4R7, (519) 653-6500, [email protected]; For general media inquiries, contact: Matthew Robinson, Director, Corporate Communication, ATS Corporation, 730 Fountain Street North, Cambridge, ON, N3H 4R7, (519) 653-6500, [email protected]
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