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    ATA   CA0019401052

ATS AUTOMATION TOOLING SYSTEMS INC.

(ATA)
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ATS to Deliver an Innovative Automation First for Bruce Power's Nuclear Program

11/30/2021 | 08:02am EST

CAMBRIDGE, ON, Nov. 30, 2021 /CNW/ - ATS Automation Tooling Systems Inc. (TSX: ATA) ("ATS" or the "Company"), an industry-leading automation solutions provider, today provided an update on its recently received Order Booking valued at approximately $30 million from Bruce Power, the operator of one of the largest nuclear power plants in North America.

The award relates to the refurbishment of Bruce Power's Unit 3 reactor, further strengthening ATS and Bruce Power's long-term partnership, which includes the ongoing Major Component Replacement (MCR) program.

ATS' scope of work includes an industry-first: automating the installation and inspection of calandria tubes – an innovative approach for CANDU nuclear plants. ATS will also provide training and support for the Bruce Power team and enter a partnership to provide spare replacement parts. The Order Booking was added to ATS' Order Backlog in the second quarter of fiscal 2022 and is expected to be delivered over the next 15 months.  

"For the past ten years, ATS has been a strategic partner, most recently designing, building, and integrating a new class of automation tools for reactor refurbishment," said Eric Chassard, Executive Vice President of Projects and Engineering at Bruce Power. "The remote capabilities and precision of ATS Industrial Automation systems will help us reach our goal of net-zero by automating and modernizing our infrastructure to improve safety, performance and efficiency."

"Using the ATS Business Model for Success, our team partnered closely with Bruce Power to achieve a common purpose, working together as one team," said Udo Panenka, President of ATS Industrial Automation. "This type of collaboration demonstrates how innovation and technology can advance refurbishment efforts, which include delivering the first fully automated system for fuel channel installation in a CANDU nuclear reactor, while ensuring the health and safety of workers and the dependable operation of a critical energy source."

Supporting Bruce Power's Ongoing MCR Program

The Bruce Power MCR team recently completed the removal work associated with Unit 6 and entered the inspection and installation phase of new fuel channels that will extend the facility's life for 40 years. ATS has been a partner to Bruce Power for over a decade and has played a vital role in designing, testing, and manufacturing all the automation systems used to support the safe removal of pressure tubes, calandria tubes, and other components. ATS' long-standing relationship with Bruce Power included co-development of The Bruce Reactor Inspection and Maintenance System (BRIMS).

The Bruce Power MCR program began with Unit 6 in January 2020, followed by Units 3 through 8, extending the life of the site to 2064. Bruce Power's Life-Extension Program, which includes Asset Management and MCR, began on Jan. 1, 2016, and remains on time and on budget.

About Bruce Power
Formed in 2001, Bruce Power is an electricity company based in Bruce County, Ontario. We are powered by our people. Our 4,200 employees are the foundation of our accomplishments and are proud of the role they play in safely delivering clean, reliable, low-cost nuclear power to families and businesses across the province and life-saving medical isotopes across the globe. Bruce Power has worked hard to build strong roots in Ontario and is committed to protecting the environment and supporting the communities in which we live. Learn more at www.brucepower.com.

About ATS
ATS is an industry-leading automation solutions provider to many of the world's most successful companies. ATS uses its extensive knowledge base and global capabilities in custom automation, repeat automation, automation products and value-added services, including pre-automation and after-sales services, to address the sophisticated manufacturing automation systems and service needs of multinational customers in markets such as life sciences, food & beverage, transportation, consumer products, and energy. Founded in 1978, ATS employs over 5,000 people at 28 manufacturing facilities and over 50 offices in North America, 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:
Non-IFRS Measures
Order Bookings and Order Backlog are non-IFRS measure and do not have any standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Additional information on non-IFRS measures can be found in the Company's MD&A on SEDAR or on the Investor's section of the Company's website.

Forward-looking Statements
This news 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' 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 are 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. Forward-looking statements relate to, among other things, the announcement of a new Order Booking; and the anticipated timeline for delivery. The risks and uncertainties that may affect forward-looking statements include, among others: the progression of COVID-19 and its impacts on the Company's ability to operate its assets, including the possible shut-down of facilities due to COVID-19 outbreaks; the severity and duration of the COVID-19 pandemic in all jurisdictions where the Company conducts its business; the nature and extent of government imposed restrictions on travel and business activities and the nature, extent, and applicability of government assistance programs, in both cases related to the COVID-19 pandemic, as applicable in all jurisdictions where the Company conducts its business; the impact of the COVID-19 pandemic on the Company's employees, customers, and suppliers; the impact of the global economy and general market performance; that the timing of completion of the program is other than as expected due to various reasons, including schedule changes or COVID-19 pandemic related factors; the customer exercising any right to terminate the program in whole or in part prior to its completion, thereby preventing ATS from realizing on the full benefit of the program; that one or more customers, or other entities with which the Company has contracted, experience insolvency or bankruptcy with resulting delays, costs or losses to the Company; political, labour or supplier disruptions; risks relating to legal proceedings to which ATS is or may become a party; exposure to product and/or professional liability claims; and other risks detailed from time to time in ATS' filings with Canadian provincial securities regulators. Forward-looking statements are based on management's current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.

SOURCE ATS Automation Tooling Systems Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 2 104 M 1 654 M 1 654 M
Net income 2022 130 M 102 M 102 M
Net Debt 2022 844 M 663 M 663 M
P/E ratio 2022 32,6x
Yield 2022 -
Capitalization 4 666 M 3 702 M 3 667 M
EV / Sales 2022 2,62x
EV / Sales 2023 2,22x
Nbr of Employees 5 000
Free-Float -
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ATS Automation Tooling Systems Inc. Technical Analysis Chart | ATA | CA0019401052 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 5
Last Close Price 50,57 CAD
Average target price 62,50 CAD
Spread / Average Target 23,6%
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Managers and Directors
Andrew P. Hider Chief Executive Officer & Director
Ryan McLeod Manager-Reporting & Compliance
David Lyman McAusland Non-Executive Chairman
Joe Metri Chief Information Officer
Michael Emil Martino Independent Director
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