CAMBRIDGE, ON, Nov. 29,
2022 /CNW/ - ATS Corporation (TSX: ATS) ("ATS" or the
"Company") today announced that it has entered into a definitive
agreement to acquire IPCOS Group nv ("IPCOS"), a Belgium-based provider of process optimization
and digitalization solutions with six locations across Europe, the US, and India. The financial terms of the transaction
were not disclosed, and the transaction is subject to the
satisfaction of certain closing conditions.
IPCOS will join ATS' Process Automation Solutions ("PA")
business, a leading provider of complete automation and
digitalization solutions for the process and manufacturing
industries. With a strong focus on process optimization, IPCOS will
accelerate PA's strategy to drive productivity improvement through
digital solutions. In synergy with the existing PA portfolio, it
furthers PA's value proposition of creating solutions for customers
through automation integration, data analytics, and process
optimization.
"IPCOS broadens our process optimization and digitalization
capabilities in our key focus sectors," said Dr. Christian Debus, President of PA. "Its
strong domain knowledge, which has been incorporated into their
digital solutions, can be offered to our existing customers as a
value add to our leading digitalization platform. Additionally,
IPCOS will significantly accelerate PA's growth trajectory, and
further strenghten our unique value proposition. We are looking
forward to welcoming the IPCOS team to PA."
"Being part of PA will accelerate IPCOS' strategy to grow in the
area of digital services and in new customer segments by leveraging
PA's extensive technological expertise, global footprint, and
customer access," said Filip
Stroobant, CEO of IPCOS.
About IPCOS
IPCOS was founded in 1995, and is headquartered in Leuven,
Belgium. IPCOS is a Digital
Solutions and Services provider, focused on maximizing plant
efficiency, increasing business productivity, and enhancing
environmental sustainability, through the smart application of
latest Industry 4.0 technologies. IPCOS serves a wide range of
international process and allied industries with six locations
across the US, Europe and
India. Visit the company's website at
https://ipcos.com/ for more details.
About Process Automation Solutions
Process Automation Solutions GmbH is one of the leading,
manufacturer-independent suppliers of complete automation solutions
for the process, manufacturing, and automotive industries. As a
strong partner, PA's 1,400 automation experts in Europe, America and Asia support their customers during all phases
of automation from planning to implementation and commissioning –
and if desired, throughout the entire lifecycle of the plant
through aftersales service. Visit PA's website
at www.pa-ats.com.
About ATS Corporation
ATS Corporation 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 6,000 people at more
than 50 manufacturing facilities and over 75 offices in
North America, Europe, Southeast
Asia and China. The
Company's common shares are traded on the Toronto Stock Exchange
under the symbol ATS. Visit the Company's website at
www.atsautomation.com.
Forward-looking Statements
This news release contains certain statements that may
constitute forward-looking information within the meaning of
applicable securities laws ("forward-looking
statements"). Forward-looking statements include all
statements that are not historical facts regarding possible events,
conditions or results of operations that ATS believes, expects or
anticipates will or may occur in the future, including, but not
limited to: completion of the acquisition; expectations related to
the achievement of PA's strategy, including its growth strategy,
and value proposition, and expectations related to IPCOS' growth
strategy.. Such forward-looking statements are inherently
subject to significant 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. Important risks, uncertainties and
factors that could cause actual results to differ materially from
expectations expressed in the forward-looking statements include,
but are not limited to, the duration of the COVID-19 pandemic
and its impact on the Company, its employees, customers,
suppliers and the global economy; impact of regional or global
conflicts; general market performance including capital market
conditions and availability and cost of credit; performance of the
markets that ATS serves; industry challenges in securing the supply
of labour, materials, and, in certain jurisdictions, energy sources
such as natural gas, impact of inflation; interest rate changes;
foreign currency and exchange risk; the relative strength of the
Canadian dollar; recessionary risk; impact of factors such as
increased pricing pressure, increased cost of energy and supplies,
and delays in relation thereto, and possible margin compression;
the regulatory and tax environment; that closing is delayed or
prohibited as a result of the inability to complete closing
conditions; the expectations related to the achievement of PA's
strategy, including its growth strategy, or in relation to its
value proposition, are not realized as expected, or within the
expected timeframe or at all; the expectations related to IPCOS'
growth strategy are not realized as expected, or within the
expected timeframe or at all; performance of the market sectors or
customer segments that PA and IPCOS serve; and other risks and
uncertainties detailed from time to time in ATS' filings with
securities regulators, including, without limitation, the risk
factors described in ATS' annual information form for the fiscal
year ended March 31, 2022, which are
available on the System for Electronic Document Analysis and
Retrieval ("SEDAR") and can be accessed at www.sedar.com. ATS
has attempted to identify important factors that could cause actual
results to materially differ from current expectations, however,
there may be other factors that cause actual results to differ
materially from such expectations.
Forward-looking statements are necessarily based on a number of
estimates, factors and assumptions regarding, among others,
management's current plans, estimates, projections, beliefs and
opinions, the future performance and results of the Company's
business and operations; and general economic conditions and global
events, including the COVID-19 pandemic.
Forward-looking statements included in this news release are
only provided to understand management's current expectations
relating to future periods and, as such, are not appropriate for
any other purpose. Although ATS believes that the expectations
reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties, and ATS cautions you
not to place undue reliance upon any such forward-looking
statements, which speak only as of the date they are made. ATS does
not undertake any obligation to update forward-looking statements
contained herein other than as required by law.
SOURCE ATS Corporation