Cambridge, Ontario (September 27, 2021) – ATS Automation Tooling Systems Inc. (TSX: ATA) (“ATS” or the “Company”), an industry-leading automation solutions provider, today announced it has entered into a definitive agreement to acquire DF S.r.l, a specialized manufacturer of pharmaceutical processing and packaging equipment and systems. The transaction is expected to close in the fourth calendar quarter of 2021, pending the completion of customary regulatory filings. The financial terms of the transaction were not disclosed.
DF will join ATS’ Comecer business, a leading manufacturer of aseptic production and packaging equipment for the radiopharmaceutical and pharmaceutical markets.
“The addition of DF provides Comecer with a complementary portfolio of products allowing us to enhance our value proposition to customers, particularly in the aseptic fill-finish manufacturing area” said Simone Volpi, President of Comecer. “We also see opportunities for joint product development and cross-selling across the Comecer and DF portfolios which will help drive future growth for our businesses”.
DF is a supplier of specialized production equipment and systems primarily catering to the pharmaceutical market, with a growing presence in other markets including food. The company’s offerings include washing, sterilizing, and packaging and control solutions that meet stringent industry requirements. DF employs 26 employees at its two Italian locations.
DF was founded in 1987 by Massimo Boldrini. The company is based in Siena, Tuscany, Italy, and provides specialized equipment and systems serving customers in the pharmaceutical and food markets. DF operates through 3 business entities and employs 26 employees at its two locations in Italy. Visit the company’s website at www.dfsiena.it for more details.
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 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 5,000 people at 28 manufacturing facilities and over 50 offices in North America, Europe, Southeast Asia and China. The Company’s shares are traded on the Toronto Stock Exchange under the symbol ATA. Visit the Company’s website at www.atsautomation.com.
This news release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS or DF, or developments in either ATS’ or DF’s business or in their industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Forward-looking statements include all disclosure regarding possible events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action. Forward-looking statements may also include, without limitation, any statement relating to future events, conditions or circumstances. ATS cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made.
Forward-looking statements in this press release relate to, among other things: completion of and timing for completion of the acquisition and benefits resulting from the acquisition. The risks and uncertainties that may affect forward-looking statements include, among others: performance of the market sectors that DF and ATS serve; the progression of COVID-19 and its impacts on the Company’s and DF’s ability to operate their respective assets, including the possible shut-down of facilities due to COVID-19 outbreaks; the severity and duration of the COVID-19 pandemic in all jurisdictions where the Company and DF conduct business; the nature and extent of government imposed restrictions on travel and business activities and the nature, extent, and applicability of government assistance programs, in both cases related to the COVID-19 pandemic, as applicable in all jurisdictions where the Company and DF conduct business; the impact of the COVID-19 pandemic on the Company’s and DF’s employees, customers, and suppliers; the impact of COVID-19 on the global economy; general market performance including capital market conditions and availability and cost of credit; foreign currency and exchange risk; the relative strength of the Canadian dollar; impact of factors such as increased pricing pressure and possible margin compression; the regulatory and tax environment; failure or delays associated with new customer programs; that closing is delayed or prohibited as a result of the completion of regulatory filing process; that DF’s business does not perform as expected; that one or more customers, or other persons with which ATS or DF has contracted, experience insolvency or bankruptcy with resulting delays, costs or losses; political, labour or supplier disruptions; imposition of new duties, tariffs or other legal barriers; risks relating to legal proceedings to which DF and/or ATS is or may become a party; exposure to product liability claims; risks associated with greater than anticipated tax liabilities or expenses; and other risks detailed from time to time in ATS’ filings with Canadian provincial securities regulators. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, ATS does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs and opinions change.
For more information, contact:
Shereen Zahawi, Director Investor Relations