CAMBRIDGE, ON, Sept. 25, 2020 /CNW/ – ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”), an industry-leading automation solutions provider, today announced that as part of its previously announced plan to reorganize its Transportation business, it has entered into a conditional agreement to sell certain assets and transfer employees of one of its German-based subsidiaries to a third party.
Completion of the sale is subject to several closing conditions. If the transaction does close, it is expected to partially mitigate costs of the previously announced reorganization of its transportation business. Financial terms of the transaction have not been disclosed.
ATS 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 aftersales services, to address the sophisticated manufacturing automation