CAMBRIDGE, ON, September 1, 2006 - ATS Automation Tooling Systems Inc. announced today that its newly-formed subsidiary Photowatt Technologies Inc. has filed a registration statement with the United States Securities and Exchange Commission and a preliminary prospectus with Canadian securities regulators relating to its initial public offering of common shares.
ATS will transfer its solar business to Photowatt Technologies Inc. upon the successful completion of this offering.BMO Capital Markets and UBS Investment Bank are joint book-running managers for the initial public offering by Photowatt Technologies Inc. A registration statement relating to the common shares has been filed with the U.S.
Securities and Exchange Commission but has not yet become effective.
A preliminary prospectus has also been filed with Canadian provincial and territorial securities commissions but has not yet become final for the purposes of a distribution to the public in Canada.These securities may not be sold in the United States or in any province or territory of Canada nor may offers to buy be accepted in the United States or Canada prior to the time the registration statement becomes effective in the United States and a receipt for the final prospectus or other authorization is obtained from the Canadian provincial and territorial securities commissions.This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities or any acceptance of an offer to buy these securities in any state, province or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to their registration or qualification under the securities laws of any such state, province or jurisdiction.
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 healthcare, computer/electronics, automotive and consumer products. Through its solar business, ATS participates in the rapidly-growing solar energy industry. It also leverages its many years of repetitive manufacturing experience and skills to produce, in high volume, precision components and subassemblies and to answer the specialized repetitive equipment manufacturing requirements of customers.
ATS employs approximately 3,800 people at 26 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.