ATS Receives New Automation Systems Order Booking in the Electric Vehicle Market
Friday, September 14, 2018
Cambridge, Ontario (September 12, 2018): ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”) today announced it has received an Order Booking from a global automotive manufacturer for a fully automated battery assembly system. The total enterprise program is valued at approximately CAD $80 million, $7.6 million of which was received and recorded in Order Bookings for the first quarter of fiscal 2019. The full Order Bookings include design, build, installation and post-delivery support, including training, for a turnkey battery assembly system. The system will perform a critical role in supporting the customer's competitive entry into the electric vehicle (EV) market. “ATS’ ability to develop a leading technical solution and its demonstrated EV expertise were key factors in the customer's decision to award this strategic program to us,” said Andrew Hider, Chief Executive Officer. “The program includes ATS products and proprietary technologies and is the result of an almost year-long effort in which we worked alongside the customer’s engineering and manufacturing teams during the development of both the product and the manufacturing process.” The enterprise program is for a new customer, will involve three ATS facilities, and is expected to be delivered over the next two years.