|
| | |
|
Advertisement
|
|
|
Newsletters |
Your Gateway to a Fast
Changing World
Product News Alerts |
 |
Receive similar stories and other customized
news to keep you in the know on the products shaping
industry. |
Subscribe Free Today
Subscribe View
Sample |
Industry
Market Trends
Has Got It |
- Latest developments
- Trends
- Best practices
- Opinions & Commentary
|
 |
Get Ahead.
Get IMT.
Subscribe Free Today
Subscribe View
Sample |
|
|
|
ATS Automation Tooling Systems, Inc. Release date: January 7, 2009
CAMBRIDGE, ON, Jan. 7, 2009 - ATS Automation Tooling Systems Inc. ("ATS") has finalized the previously announced sale of the key operating assets and liabilities of Precision Components Group ("PCG").
The purchaser satisfied a portion of the purchase price by issuing promissory notes to ATS and the balance was paid in cash. PCG employs approximately 300 people at three facilities, two of which are located in Canada and one in China. The transfer of PCG's Chinese operations remains subject to receipt of approvals from the Chinese government, which are expected in the first quarter of calendar 2009. Pending receipt, a portion of the total purchase price allocated to the Chinese operations is being held in escrow.
"The divestiture of PCG, to a group led by PCG management, is consistent with our stated strategy and allows ATS to continue to focus on strategic operations," said Anthony Caputo, Chief Executive Officer. "We believe this transaction is in the best interests of all ATS employees and shareholders."
About ATS ATS Automation Tooling Systems Inc. provides innovative, custom designed, built and installed manufacturing solutions to many of the world's most successful companies. Founded in 1978, ATS uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems' needs of multinational customers in industries such as healthcare, computer/electronics, energy, automotive and consumer products. It also leverages its many years of experience and skills to fulfill the specialized automation product manufacturing requirements of customers. Through Photowatt Technologies, ATS participates in the growing solar energy industry as an integrated manufacturer of ingots, wafers, cells and modules.
Photowatt-branded products and systems serve businesses, institutions and homeowners in established and emerging markets. ATS employs approximately 3,100 people at 18 manufacturing facilities in Canada, the United States, 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.
For further information: Maria Perrella, Chief Financial Officer, Carl Galloway, Vice-President and Treasurer, (519) 653-6500
Company Information:
Name: ATS Automation Tooling Systems, Inc.
Address: 250 Royal Oak Rd.
City: Cambridge
State: ON
ZIP: N3H5M2
Country: Canada
Phone: 519-653-6500
FAX: 519-653-6533
http://www.atsautomation.com
|
Other News from this company: |
 |
ATS to Host Second Quarter Conference Call Tuesday November 10 2009 at 10:00 am Eastern
|
|
|
ATS Announces Plans to Serve the Domestic Solar Energy Market
|
|
|
ATS to Host First Quarter Conference Call Wednesday August 12, 2009 at 10:00 am Eastern
|
|
|
ATS to Host Fourth Quarter Conference Call Wednesday June 10, 2009 at 10:00 AM Eastern
|
|
|
ATS to Host Third Quarter Conference Call Wednesday February 11, 2009 at 10:00 AM Eastern
|
|
|
ATS to Host Second Quarter Conference Call Wednesday, November 12, 2008 at 10:00 AM Eastern
|
|
|
ATS to Host First Quarter Conference Call Wednesday, August 13, 2008 at 10:00 AM Eastern
|
|
|
ATS Automation Signs New Credit Agreement
|
|
|
ATS to Host Fourth Quarter Conference Call Wednesday, June 18, 2008 at 10:00 AM Eastern
|
|
|
ATS to Host Third Quarter Conference Call Wednesday, February 13, 2008 at 10:00 am Eastern
|
|
|
ATS Automation Tooling Systems Inc. Announces Appointment of Anthony Caputo as Chief Executive Officer
|
|
|
ATS Appoints Interim CFO
|
|
|
ATS Announces Election of New Board and Appointment of New Interim Chief Executive Officer
|
|
|
ATS Appoints Veteran French Energy Industry Executive as CEO of Photowatt
|
|
|
ATS Wins New Assignment from Atomic Energy of Canada
|
|
|
ATS Responds to ISS Recommendation
|
|
|
ATS Responds to Goodwood/Mason Announcement
|
|
|
ATS Solar Group Secures Multi-Year Polysilicon Supply Contract with Industry-Leading WACKER Chemie AG
|
|
|
ATS Solar Group Secures Multi-Year Polysilicon Supply Contract with Industry-Leading WACKER Chemie AG
|
|
del.icio.us
DIGG
Facebook
Reddit
StumbleUpon
Twitter![[Get Copyright Permissions]](http://license.icopyright.net/images/icopy-w.gif){kind=small}
