CAMBRIDGE, ON, July 8 /CNW/ - ATS Automation Tooling Systems Inc. today announced it has received a US $3.8 million (CDN $5.0 million) order from one of the world's largest pharmaceutical companies to provide a manufacturing system for a new drug delivery technology.The assignment - to be completed in early 2005 - makes use of a range of ATS capabilities including assembly, material handling, drug filling, testing, inspection and packaging technologies.
All of these capabilities, as well as ATS's extensive technology integration skills, project management expertise, and successful track record on previous assignments with other divisions of the same customer were cited by the customer as the reasons they selected ATS. "The pharmaceutical industry is one of the fastest-growing markets for automated manufacturing solutions and ATS is rapidly becoming the first choice in automation," said Klaus Woerner, President and Chief Executive Officer of ATS. "This order is strategically significant for us because it's in the field of drug delivery devices, a rapidly developing area within pharma and it's for a long-term customer - one of the world's largest pharmaceutical companies.
This customer has once again shown its confidence in ATS by awarding us this important high profile project in another of their key operating divisions." Mr. Woerner added that ATS is "well positioned to address the challenges associated with high volume manufacture of many new drug delivery devices. In addition to our full range of automation capabilities, these applications can benefit from our substantial experience in several specialized fields, including vision inspection, aseptic processing and assembly to enable efficient and reliable manufacture of a range of drug delivery devices." Customer and product details cannot be provided because of strict customer confidentiality.
About the Drug Delivery Market and ATS
Industry research estimates that the market for drug delivery technologies in the US totalled $19 billion in 2000, and is expected to more than double by 2007 as manufacturers use these technologies as an important life-cycle management tool. While oral delivery is still the route most preferred by patients, since the 1970's more than 35 new drug delivery systems have been marketed including transdermal patches, time-release pills, injectables, osmotic pumps, depot implants and others.New drug delivery technologies offer significant advantages for patients, hospitals and public administrators. Patients benefit by enjoying more effective and convenient administration of proven drug products. Healthcare costs are reduced when patients are able to safely self-administer therapies.
Most important, health outcomes improve as the result of superior drug delivery modalities provided by these innovative technologies.ATS has developed special expertise in a number of areas of the pharmaceutical industry since strategically targeting healthcare as a core market. Over the past five years, ATS has generated more than $300 million in revenue from the healthcare sector.
Corporate Description
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. The Company also makes precision components and sub-assemblies using its own custom-built manufacturing systems, process knowledge and automation technology.
ATS is also an emerging leader in the rapidly growing market for solar energy cells and modules. ATS employs approximately 3,800 people at 26 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.Certain forward looking statements are made in this news release, including statements regarding growth prospects for the business and the impact of changes in management. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of ATS's products, technologies, customer requirements and other risks detailed from time to time in ATS's periodic reports filed with Canadian regulatory authorities.
