CAMBRIDGE, ON, Oct. 28, 2011 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS") today announced that its Photowatt France subsidiary is implementing a "reduction of workdays program" in response to lower demand for solar modules and systems. As a result, the solar manufacturing facility in Bourgoin-Jallieu, France will be operating at approximately one-third of its production capacity.
About ATS
ATS Automation 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 life sciences,
computer/electronics, energy, transportation 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 solar energy industry. ATS
employs approximately 2,900 people at 21 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.
Note to Readers: Forward-Looking Statements
This press release contains certain statements that constitute
forward-looking information within the meaning of applicable securities
laws ("forward-looking statements"). Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that
may cause the actual results, performance or achievements of ATS, or
developments in ATS's business or in its industry, to differ materially
from the anticipated results, performance, achievements or developments
expressed or implied by such forward-looking statements.
Forward-looking statements include all disclosure regarding possible
events, conditions or results of operations that is based on
assumptions about future economic conditions and courses of action.
Forward-looking statements may also include, without limitation, any
statement relating to future events, conditions or circumstances. ATS
cautions you not to place undue reliance upon any such forward-looking
statements, which speak only as of the date they are made.
Forward-looking statements relate to, among other things, Photowatt
France implementing a reduction of workdays program. The risks and
uncertainties that may affect forward-looking statements include, among
others, general market performance including capital market conditions
and availability of credit; economic market conditions; performance of
the market sectors that ATS serves; extent of market demand for solar
products, the level of solar module and system orders obtained by
Photowatt France, and other risks detailed from time to time in ATS's
filings with Canadian provincial securities regulators. Forward-looking
statements are based on management's current plans, estimates,
projections, beliefs and opinions, and ATS does not undertake any
obligation to update forward-looking statements should assumptions
related to these plans, estimates, projections, beliefs and opinions
change.
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