ATS Announces Photowatt Technologies Management Restructuring
CAMBRIDGE, ON, April 4: ATS Automation Tooling Systems Inc. today
announced the restructuring of the executive team within Photowatt
Technologies, the Company's solar group. The restructuring follows the
withdrawal of Photowatt's IPO last week and is designed to strengthen
operational performance and advance initiatives within the solar group.
Effective immediately, Gary Seiter has been appointed Chief Operating
Officer of Photowatt Technologies. Mr. Seiter joined Photowatt in 2006 as
Senior Vice President of Operations and Technology. Earlier in his career, he
served at Motorola Inc. in various engineering and management roles for almost
25 years, including Director of Manufacturing Operations. He holds a Bachelor
of Science and a Masters in Electrical Engineering, as well as an MBA in
finance.
Also effective immediately, David Adams has been named Photowatt
Technologies' Senior Vice President, Corporate Development. Mr. Adams joined
Photowatt in 2006 as Senior Vice President and Chief Financial Officer. Mr.
Adams has over 25 years of experience and previously served as Senior Vice
President and Chief Financial Officer of SR Telecom, Vice President, Finance
and Administration at CAE Electronics Ltd. and Treasurer of CAE Inc. Mr. Adams
holds a Bachelor of Commerce and Finance degree and is a Chartered Accountant.
Also announced today is the departure of Silvano Ghirardi as President
and Chief Executive Officer of Photowatt Technologies.
In commenting on this management restructuring, Ron Jutras, ATS President
and Chief Executive Officer said: "Strategically, we remain committed to
establishing Photowatt as a standalone, self-funding business. Operationally,
our immediate priorities are to maximize the value of the new integrated
capacity we have just added at Photowatt France, further validate our refined
metallurgical silicon strategy, and advance Photowatt's strategic
relationships in R&D and silicon supply. Gary and David already have a sound
understanding of Photowatt and valuable experience and business skills in high
tech manufacturing. I believe they will be important contributors to our plans
to strengthen Photowatt."
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 healthcare, computer/electronics, automotive and
consumer products. Through its solar business, ATS participates in the growing
solar energy industry. It also leverages its many years of repetitive
manufacturing experience and skills to produce, in high volume, precision
components and subassemblies and to answer the specialized repetitive
equipment manufacturing requirements of customers. ATS employs approximately
3,500 people at 25 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.
For further information:
Carl Galloway,
Vice President and Treasurer, ATS,
Gerry Beard, Vice President and Chief Financial Officer, ATS,
(519) 653-6500
