ATS Closes $110 Million Rights Offering
CAMBRIDGE, ON, Aug. 16 /- ATS Automation Tooling Systems Inc. today
announced it has completed its Rights Offering, raising gross proceeds of
$110 million.
Under the Basic Subscription Privilege, ATS received subscriptions for
16,011,247 common shares. Under the Additional Subscription Privilege
1,678,903 common shares were purchased. The Additional Subscription Privilege
was oversubscribed and no shares were issued under the standby purchase
agreement.
"The successful closing of the rights offering completes another
important task in our strategic goal of becoming a pure automation systems
company," said Ron Jutras, ATS President and Chief Executive Officer. "The
proceeds from the rights transaction will be used to fund the business plan
for Photowatt France, while also supporting the spin out of Photowatt to ATS
shareholders. We are pleased with the support shown by ATS shareholders for
the offering and are committed to enhancing the value of our company for all
ATS shareholders through strong execution of our stated business priorities."
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, automotive and consumer products. It also leverages its
many years of repetitive manufacturing experience and skills to fulfill the
specialized repetitive equipment manufacturing requirements of customers.
Through its solar business, ATS participates in the growing solar energy
industry and through its precision components business it produces, in high
volume, precision components and subassemblies. ATS employs approximately
3,500 people at 24 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: Carl Galloway, Vice President and Treasurer; Gerry
Beard, Vice President and Chief Financial Officer, (519) 653-6500
