ATS Automation Announces Acquisition of ATW Automation Business

ATS Automation Tooling Systems has declared that one among its subsidiaries has made an agreement to procure Assembly & Test Worldwide’s (ATW) operations in Dayton Ohio, Saginaw Michigan, Livonia Michigan and Neuwied Germany for US $18.5 million.

Around two-thirds of the revenues obtained by these operations are derived from the automotive segment, followed by life Sciences and Energy. This acquisition is part of ATS’ mission of extending its presence in the global automation market and improving developmental opportunities.

Anthony Caputo, Chief Executive Officer of ATS, has mentioned that the acquirement of the US and German-based businesses of ATW will introduce them to several new clients of the automotive industry. He mentioned that with the inclusion of new Life Sciences group this year, the acquirement offers a significant mass for releasing a group involved in transportation. He added that they are looking forward to releasing several groups as they grow and accomplish success in other client markets.

The acquired operations feature a joint labor force of around 300.  Last year, the operations have fetched revenues around US $65 million and US-based clients had contributed 80% of the revenues.

The acquirement is likely to be completed in another few weeks, subject to closing factors like conventional permits and approvals and beneficial initial visits with major clients.

Source: http://www.atsautomation.com

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    ATS Automation Tooling Systems Inc.. (2019, February 21). ATS Automation Announces Acquisition of ATW Automation Business. AZoRobotics. Retrieved on September 21, 2019 from https://www.azorobotics.com/News.aspx?newsID=587.

  • MLA

    ATS Automation Tooling Systems Inc.. "ATS Automation Announces Acquisition of ATW Automation Business". AZoRobotics. 21 September 2019. <https://www.azorobotics.com/News.aspx?newsID=587>.

  • Chicago

    ATS Automation Tooling Systems Inc.. "ATS Automation Announces Acquisition of ATW Automation Business". AZoRobotics. https://www.azorobotics.com/News.aspx?newsID=587. (accessed September 21, 2019).

  • Harvard

    ATS Automation Tooling Systems Inc.. 2019. ATS Automation Announces Acquisition of ATW Automation Business. AZoRobotics, viewed 21 September 2019, https://www.azorobotics.com/News.aspx?newsID=587.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit