ATS confirms notice of solar FIT application approvals in Ontario
TSX: ATA
CAMBRIDGE, ON, April 9, 2010 /CNW/ - ATS Automation Tooling Systems Inc. reported today that it has been notified by
the Ontario Power Authority ("OPA") that a number of Ontario Feed-in Tariff ("FIT ") applications in the Company's
solar development pipeline have been approved by the OPA.
Last year, ATS announced that it would lever its global solar expertise, and almost one million square feet of
facilities and 900 employees in Ontario to advance the Ontario solar market by:
- Developing solar projects;
- Offering complete solutions to installers and developers, with the
ability to meet domestic content requirements;
- Building modules in Ontario; and
- Designating a "green wing" and inviting others to collaborate.
ATS has been actively pursuing its plan. It has developed and is installing a state-of-the-art module manufacturing
line in Cambridge. The first phase of the line is expected to be operational within the next few months.
Yesterday's OPA announcement includes FIT approvals totalling approximately 65 megawatts related to large scale
renewable energy applications made by a project development joint venture in which ATS holds a 50% interest. The JV
will utilize a range of solar solutions, including modules manufactured by ATS in Cambridge. The JV's next steps
include efforts to arrange financing and ultimate project ownership, as well as obtaining necessary JV partner
approvals and other requisite approvals.
"We are very pleased to receive the notice of FIT application approvals," said Anthony Caputo, ATS Chief Executive
Officer. "This is an important first step toward advancing one element of our comprehensive plan for solar in Ontario.
We also are pleased that a number of other market participants have received notices and I invite them to collaborate
with ATS on advancing their plans."
Today's notices by the OPA are one step in the overall FIT program. Details of the Ontario FIT Program and process are
available at the OPA web site: www.powerauthority.on.ca.
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 industries such as
healthcare, computer/electronics, energy, automotive 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 growing solar energy industry. ATS employs approximately 2,400 people at 13
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 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'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: ATS's intention to develop solar projects; the offering of complete
solutions to installers and developers with the ability to meet domestic content requirements; the building of modules
in Ontario; designation of a "green wing" and the invitation to others wishing to participate; anticipated timeline
for operation of the module manufacturing line; solutions anticipated to be used by the solar joint venture; efforts
to arrange project financing, ultimate project ownership and to obtain necessary JV partner approvals and other
requisite approvals; and invitation to other market participants to collaborate. The risks and uncertainties that may
affect forward-looking statements include, among others: general market performance including capital market
conditions and availability and cost of credit; economic market conditions; delays in establishing production
capacity; ability of ATS to acquire the needed expertise and financing necessary to effectively develop solar
projects, and ability to do so within the required timelines; the financial attractiveness of, and demand for, those
solar projects; the ability to identify and conclude a sale of the solar projects with ultimate purchasers and the
timeliness thereof; ATS's ability to conclude relationships with third parties in order to implement its plans; extent
of market demand for solar products; the availability of needed supplies; failure to, or delays in, obtaining
necessary JV partner approvals and other requisite approvals; the availability and possible reduction or elimination
of government subsidies and/or changes to domestic content requirements; ability to obtain necessary government
certifications and approvals for solar projects in a timely fashion; ability to meet FIT contract requirements;
political, labour or supplier disruptions; potential inability of ATS to achieve improvements in cell efficiency,
including problems with the technology or commercialization thereof; the development of superior or alternative
technologies to those developed by ATS; the success of competitors with greater capital and resources in exploiting
their technology; market risk for developing technologies; 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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For further information: Maria Perrella, Chief Financial Officer, Carl Galloway, Vice- President, Treasurer, (519) 653-6500