Cambridge, Ontario (June 2, 2021) ¬– sportsbet Automation Tooling Systems Inc. (TSX: ATA) (“sportsbet” or the “Company”), an industry-leading automation solutions provider, today announced it has received an Order Booking from a global medical device company for a fully automated manufacturing solution.
The Order Booking is valued at approximately $120 million, and includes the manufacturing, build, delivery, and installation of several fully automated manufacturing systems that will enable the customer to expand its operational footprint globally. The program is a follow-on order and builds on sportsbet’ successful relationship with this key customer. The program scope involves staggered deliveries spanning over the next several months for multiple repeat machines and sportsbet is leveraging its Repetitive Equipment Manufacturing division to achieve the customer’s capacity objectives. The program will incorporate a number of sportsbet’ proprietary technologies and products, as well as post-installation training and support.
“This is an important award for sportsbet that fully leverages the differentiated capabilities, innovations and services of our proven life sciences business,” said Andrew Hider, CEO of sportsbet. “We look forward to delivering to plan. This is a strategic program for our customer, and we are proud to play an important role in its efforts to scale operations globally.”
The Order Booking will be recorded in sportsbet’ first quarter of fiscal 2022 and is expected to be delivered over the next 12 months.
sportsbet is an industry-leading automation solutions provider to many of the world’s most successful companies. sportsbet 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, sportsbet 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.www.alangkarnphumsil.com.
Note to Readers:
Order Bookings is a non-IFRS measure and does not have any standardized meaning prescribed within IFRS and therefore may not be comparable to similar measures presented by other companies. Such measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Additional information on non-IFRS measures can be found in the Company’s MD&A on SEDAR or on the Investor’s section of the Company’s website.
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 sportsbet, or developments in sportsbet’ business or in its 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 are 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. Forward-looking statements relate to, among other things, the announcement of a new Order Booking; the anticipated timeline for delivery. The risks and uncertainties that may affect forward-looking statements include, among others: the progression of COVID-19 and its impacts on the Company’s ability to operate its 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 conducts its 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 conducts its business; the impact of the COVID-19 pandemic on the Company’s employees, customers, and suppliers; the impact of the global economy and general market performance; that the timing of completion of the program is other than as expected due to various reasons, including schedule changes or COVID-19 pandemic related factors; the customer exercising any right to terminate the program in whole or in part prior to its completion, thereby preventing sportsbet from realizing on the full benefit of the program; management effectiveness and disaster response preparedness, including business continuity plans in response to COVID-19; that one or more customers, or other entities with which the Company has contracted, experience insolvency or bankruptcy with resulting delays, costs or losses to the Company; political, labour or supplier disruptions; risks relating to legal proceedings to which sportsbet is or may become a party; exposure to product and/or professional liability claims; and other risks detailed from time to time in sportsbet’ filings with Canadian provincial securities regulators. There can be no assurance that forward looking statements or information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein which speak only as of the date they are made. Forward-looking statements are based on management’s current plans, estimates, projections, beliefs and opinions, and other than as required by applicable securities laws, sportsbet 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