Cambridge, Ontario-based ATS Automation Tooling Systems Inc (TSX:ATA), a provider of custom designed, built and installed manufacturing solutions, has completed its previously announced $144 million buy of IWK Verpackungstecknik GmbH, a pharmaceutical and personal care tube filling and cartoning machinery group. The seller in the deal was OYSTAR Group, a Stutensee, Germany-based producer of packaging machinery that is a portfolio company of private equity firm Odewald. The Berlin-based Odewald invested in OYSTAR in 2007.
ATS Automation Completes Acquisition of IWK Group
CAMBRIDGE, ON, Sept. 30, 2013 /CNW/ – ATS Automation Tooling Systems Inc. (TSX:ATA) (“ATS” or the “Company”) today announced that the acquisition of IWK, a leading pharmaceutical and personal care tube filling and cartoning machinery group, previously announced on September 1, 2013, has been completed.
ATS Automation provides innovative, custom designed, built and installed manufacturing solutions to many of the world’s most successful companies. Founded in 1978, ATS uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems’ needs of multinational customers in industries such as consumer products & electronics, energy, life sciences and transportation. It also leverages its many years of experience and skills to fulfill the specialized automation product manufacturing requirements of customers. Through its Ontario solar business, ATS participates in the solar energy industry. ATS employs approximately 2,600 people at 23 manufacturing facilities in Canada, the United States, 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.
SOURCE ATS Automation Tooling Systems Inc.
For further information:
Maria Perrella, Chief Financial Officer
Carl Galloway, Vice-President, Treasurer
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