ATS'S Photowatt Technologies Business Enters 10 Year Silicon Supply Agreement
CAMBRIDGE, ON, Oct. 16- ATS Automation Tooling Systems Inc. today
announced that its solar business, Photowatt Technologies, has entered into a
10-year silicon supply contract with Deutsche Solar AG, Freiberg for the
supply of solar-grade, multi-crystalline polysilicon wafers beginning in the
first half of calendar 2009. Deutsche Solar is one of Europe's largest wafer
manufacturers and a subsidiary of SolarWorld AG.
Under the agreement, Deutsche Solar is obliged to deliver, and Photowatt
Technologies is obliged to accept, approximately four million polysilicon
wafers per annum. These wafers will be processed into solar cells and modules
by Photowatt and are estimated to support the manufacture of approximately
15 megawatts of solar power products per annum. Advance payments to be made
under the contract will be applied against the price of silicon wafers
received during the life of the commitment. The price will be adjusted at the
beginning of each calendar year based upon an agreed formula. Management
believes that these terms are reflective of current commercial terms in the
solar industry for supply contracts of similar durations.
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
rapidly-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 3,800 people at 26 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
web site at www.atsautomation.com.
For further information:
Carl Galloway,
Vice President and Treasurer,
Gerry Beard,
Vice President and Chief Financial Officer,
(519) 653-6500
