ATS and Comecer Secure $32 Million Order Booking from New Pharmaceutical Customer
CAMBRIDGE, ON, Oct. 23, 2019 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company") today announced its subsidiary Comecer S.p.A. has received an Order Booking from a leading global pharmaceutical company for the supply of an automated pharmaceutical assembly and filling line.
The Order Booking is valued at CAD $32 million and includes design, build, installation, validation and training for the turnkey system. The customized solution will combine Comecer's leading aseptic processing and containment technologies with ATS' aseptic automation solutions. The system will also feature ATS' proprietary products including Illuminate™ Manufacturing Intelligence smart-factory management system.
"The award of this strategic program is a great win for our business and marks a significant step forward in the ongoing development of our ATS and Comecer joint offerings for the aseptic fill and finish market," said Andrew Hider, Chief Executive Officer. "ATS' expertise in delivering large, complex systems and Comecer's specialized technologies and capabilities in the pharmaceutical market were key to securing this exciting program."
The Order Booking will be recorded in the Company's third fiscal quarter and is expected to be delivered over the next two years. Both ATS and Comecer will equally contribute to the scope and execution of the program. ATS acquired Comecer earlier this calendar year to strengthen its customer offerings in both pharma and biopharma and add a new platform in radiopharmaceuticals.
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, chemicals, consumer products, electronics, food, beverage, transportation, energy, and oil and gas. Founded in 1978, ATS employs approximately 4,400 people at 23 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.
Note to Readers:
Non-IFRS Measures:
Order Bookings is a non-IFRS measure and does not have a standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Order Bookings represent new orders for the supply of automation systems, services and products that management believes are firm. Order Bookings provides an indication of the Company's ability to secure new orders for work during a specified period and is an indicator of future revenues the Company expects to generate based on contracts that management believes to be firm.
Forward Looking Statements:
This news 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' 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 announcement of a new Order Booking, and the anticipated timeline for program delivery. The risks and uncertainties that may affect forward-looking statements include, among others: impact of the global economy and general market performance; that the timing of completion of the enterprise program is other than expected due to reasons, including schedule changes; the customer exercising any right to terminate the program in whole or in part prior to its completion, thereby by not allowing ATS to realize the full benefit of the program; and other risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
SOURCE ATS Automation Tooling Systems Inc.
Sonya Mehan, Director, Investor Relations and Corporate Communications; Ryan McLeod, Vice President, Corporate Controller, 519 653-6500
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