- ATS (ATS) announced that its Industrial Automation business has received additional order bookings for automated battery assembly systems
- This forms part of the planned capacity expansion in North America of an existing global automotive customer
- The combined order bookings are valued at approximately US$119.9 million
- ATS is an industry-leading automation solutions provider
- ATS Corporation (ATS) is up 0.70 per cent, trading at C$54.38 per share at 3:22 pm ET
ATS (ATS) announced that its Industrial Automation business has received additional order bookings for automated battery assembly systems.
This forms part of the planned capacity expansion in North America of an existing global automotive customer. The combined order bookings are valued at approximately US$119.9 million (or approximately C$163.1 million) and are subject to customary conditions.
These order bookings are part of a previously disclosed multi-phase enterprise program that includes the design, build, and installation of turnkey battery assembly systems. It will be recorded in the company’s fourth quarter of fiscal 2023 and is expected to be executed over the next 18-24 months.
Andrew Hider, CEO of ATS Corporation, commented on the news.
“These order bookings showcase how ATS is able to offer solutions that navigate a changing environment while still offering leading solutions to customers. By forging close partnerships with our customers and leveraging the knowledge of our team through the ATS Business Model, we continue to solve complex challenges and drive value to our stakeholders.”
ATS is an industry-leading automation solutions provider. The company’s products comprise conveyor systems, automated electrified monorails, tray handlers, laser systems, and other hardware and software products.
ATS Corporation (ATS) is up 0.70 per cent, trading at C$54.38 per share at 3:22 pm ET.