ATS Automation Awarded Order Booking to Enable Rapid Scale-Up of COVID-19 Test Kit Manufacturing
ATS Automation Tooling Systems Inc. (TSX:ATA.TO), an industry-leading automation solutions provider ("ATS" or the "Company"), today announced it has received a $65 million Order Booking from Tessy Plastics to design, build and deliver two automated manufacturing systems within the next four months. The program is expected to enable the production of 10 million units per month of critical components for point-of-care testing kits that can be used to detect COVID-19.
"Our teams have been hyper-focused on helping manufacturers address the critical need for medical equipment brought on by the COVID-19 pandemic," said Andrew Hider, Chief Executive Officer of ATS. "ATS' involvement in this critical program for Tessy Plastics brings forward our significant capabilities in life sciences coupled with our ability to quickly enable manufacturers to scale production at the highest levels of quality demanded in the medical device industry. I am very proud of the way our teams have optimized resourcing across the ATS global footprint to meet an aggressive delivery schedule that will quickly bring these urgently-needed test kits to the medical community."
About Tessy PlasticsFounded in 1973, Tessy Plastics is a global contract manufacturer headquartered in Skaneateles, New York, specializing in injection molding and custom automated assembly solutions. We have facilities in New York, Virginia, Pennsylvania, and China. All of our facilities are FDA/GMP compliant and add up to more than 1.6 million square feet, including 135,000 square feet of ISO Class 7 & 8 clean room manufacturing. Through comprehensive engineering and research & development, we provide superior quality and speed to market. Contributing to both Medical and Consumer markets allows us to leverage our expertise over a wide range of products. Our capabilities include everything from product concept development and prototyping to manufacturing, packaging, and global distribution. For more information, visit www.tessy.com.
About ATSATS 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 4,500 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 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 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 are 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. Forward-looking statements relate to, among other things, the announcement of a new Order Booking; the anticipated timeline for delivery. The risks and uncertainties that may affect forward-looking statements include, among others: the progression of COVID-19 and its impacts on the Company's ability to operate its assets, including the possible shut-down of facilities due to COVID-19 outbreaks; the severity and duration of the COVID-19 pandemic in all jurisdictions where the Company conducts its business; the nature and extent of government imposed restrictions on travel and business activities and the nature, extent, and applicability of government assistance programs, in both cases related to the COVID-19 pandemic, as applicable in all jurisdictions where the Company conducts its business; the impact of the COVID-19 pandemic on the Company's employees, customers, and suppliers; the impact of the global economy and general market performance; that the timing of completion of the enterprise 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; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; that one or more customers, or other entities with which the Company has contracted, experience insolvency or bankruptcy with resulting delays, costs or losses to the Company; political, labour or supplier disruptions; risks relating to legal proceedings to which ATS is or may become a party; exposure to product and/or professional liability claims; and other risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. There can be no assurance that forward-looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein which speak only as of the date they are made. 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.
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SOURCE: ATS Automation Tooling Systems Inc.
Ryan McLeod, Vice President, Corporate Controller, 519 653-6500