ATS Confirms Notice of Solar FIT Application Approvals in Ontario
CAMBRIDGE, ON, April 9, 2010 - ATS Automation Tooling Systems Inc. reported today that it has been notified by the Ontario Power Authority ("OPA") that a number of Ontario Feed-in Tariff ("FIT ") applications in the Company's solar development pipeline have been approved by the OPA.
Last year, ATS announced that it would lever its global solar expertise, and almost one million square feet of facilities and 900 employees in Ontario to advance the Ontario solar market by:
o Developing solar projects;
o Offering complete solutions to installers and developers, with the ability to meet domestic content requirements;
o Building modules in Ontario; and
o Designating a "green wing" and inviting others to collaborate.
ATS has been actively pursuing its plan. It has developed and is installing a state-of-the-art module manufacturing line in Cambridge. The first phase of the line is expected to be operational within the next few months.
Yesterday's OPA announcement includes FIT approvals totalling approximately 65 megawatts related to large scale renewable energy applications made by a project development joint venture in which ATS holds a 50% interest. The JV will utilize a range of solar solutions, including modules manufactured by ATS in Cambridge. The JV's next steps include efforts to arrange financing and ultimate project ownership, as well as obtaining necessary JV partner approvals and other requisite approvals.
"We are very pleased to receive the notice of FIT application approvals," said Anthony Caputo, ATS Chief Executive Officer. "This is an important first step toward advancing one element of our comprehensive plan for solar in Ontario. We also are pleased that a number of other market participants have received notices and I invite them to collaborate with ATS on advancing their plans."
Today's notices by the OPA are one step in the overall FIT program. Details of the Ontario FIT Program and process are available at the OPA web site: www.powerauthority.on.ca.
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, ATS participates in the growing solar energy industry. ATS employs approximately 2,400 people at 13 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.
