Business
ATS Automation to acquire a leading pharmaceutical and personal care tube filling and cartoning machinery group
CAMBRIDGE, ON, Sept. 1, 2013 /CNW/ - ATS Automation Tooling Systems Inc. (TSX:ATA) ("AT...
About this update from Ats Corporation
[{"type":"text","content":"\n\n\nCAMBRIDGE, ON, Sept. 1, 2013 /CNW/ - ATS Automation Tooling Systems Inc.\n (TSX:ATA) (\"ATS\" or the \"Company\") today announced that it has entered into a\n definitive agreement to acquire all shares of IWK Verpackungstecknik\n GmbH as well as OYSTAR IWK USA, Inc. (\"IWK\"), a leader in technology\n driven high performance tube filling and cartoning machinery for the\n pharmaceutical and personal care industries.\n\n\nThe acquisition of IWK aligns with ATS's stated strategy of scaling its\n leading position in the global automation market and enhancing growth\n opportunities, particularly in strategic customer segments and with\n technology leadership. IWK is expected to add core capability in\n primary packaging (tube fillers) and secondary packaging (cartoners),\n which management expects can be leveraged into other markets ATS\n currently serves.  IWK brings new relationships with key pharmaceutical\n and personal care customers, which management expects will improve\n ATS's position in the Life Sciences and Consumer Products sectors. IWK\n also allows ATS to consider future acquisition possibilities that would\n be a strategic fit with IWK to provide the Company with deep\n capabilities across several core elements of the customer value chain.\n\n\n\"We welcome the addition of IWK's highly skilled people, customers,\n complementary technologies, scale and worldwide presence to our world\n leading automation business,\" said Anthony Caputo, ATS Chief Executive\n Officer. \"This acquisition significantly enhances our capability, and\n deepens our involvement with two attractive customer segments,\n pharmaceuticals and consumer products.\"\n\n\nHeadquartered in Germany, and established 120 years ago, IWK engineers,\n assembles and markets primary packaging and secondary packaging\n machinery and provides services, for blue-chip companies and local\n customers around the world. As part of ATS, IWK will continue to\n enhance its portfolio and serve customers under its own brand.\n\n\nIWK's approximately 420 employees are based at production facilities\n near Karlsruhe, Germany and Bangkok, Thailand, and at sales/services\n centres in the US, Europe and Southeast Asia.\n\n\nIn calendar 2012, IWK had revenues of approximately €82 million and\n Earnings Before Interest, Taxes, Depreciation and Amortization\n (\"E...