CAMBRIDGE, ON, Oct. 11 /CNW/ - ATS Automation Tooling Systems Inc. today commented on the impact of the October 8, 2005 Chapter 11 business reorganization filing of Delphi Corporation and certain of its U.S. subsidiaries under the U.S.
Bankruptcy Code.The Company estimates that its current exposure to the various Delphi divisions which are subject to the Chapter 11 filing, comprised of accounts receivable and contracts in progress, is in the range of US $6 million to $8 million, virtually all of which is with the Company's Automation Systems Group.Delphi has historically been, and is expected to continue to be, an important customer of ATS. The Company estimates that it has approximately US $10 million in current Order Backlog with the various Delphi divisions which are subject to the bankruptcy filing and ATS continues to work closely and actively with Delphi as it manages its way through its re-organizationprocess.
About ATS
ATS Automation Tooling Systems Inc. ( www.atsautomation.com ) is the industry's leading designer and producer of turn-key automated manufacturing and test systems, which are used primarily by multinational corporations operating in a variety of industries including: automotive,computer/electronics, healthcare, and consumer products. ATS is also an emerging leader in the rapidly growing market for solar energy cells and modules.
The Company also makes precision components and subassemblies using its own custom-built manufacturing systems, process knowledge and automation technology. ATS employs approximately 4,200 people at 26 manufacturing facilities in Canada, the United States, Europe and Asia-Pacific. The Company's shares are traded on The Toronto Stock Exchange under the symbol ATA.
