ZIA will join ATS' Process Automation Solutions ("PA") business, a leading provider of complete automation solutions for the process and manufacturing industries. ZIA will significantly strengthen PA's position in attractive high-growth automation and digitalization markets in the region with proven expertise for customers in Pharma, Food & Beverage, Consumer Goods, Petrochemical, Biochemical, and Data Centers, while also accelerating PA's digitalization journey. The transaction is subject to the completion of certain closing conditions.
"ZIA provides us with a proven platform to serve domestic and global customers in industries that are strategic to us and in geographic regions that are highly complementary to our existing footprint," said Dr.
About ZI-Argus
ZIA was founded almost 3 decades ago and headquartered in
About Process Automation Solutions
About ATS Automation
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 solutions 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 6,000 people at more than 50 manufacturing facilities and over 75 offices in
Forward-Looking Statements
This news release contains certain statements that may constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Forward-looking statements include all statements that are not historical facts regarding possible events, conditions or results of operations that ATS believes, expects or anticipates will or may occur in the future, including, but not limited to: completion of the acquisition; expectations related to the positioning and strengthening of PA in the automation and digitalization markets; and expectations related to the digitalization of PA and its business. Such forward-looking statements are inherently subject to significant known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of ATS, or developments in ATS' business or in its industry, to differ materially from the anticipated results, performance, achievements or developments expressed or implied by such forward-looking statements. Important risks, uncertainties and factors that could cause actual results to differ materially from expectations expressed in the forward-looking statements include, but are not limited to, the duration of the COVID-19 pandemic and its impact on the Company, its employees, customers, suppliers and the global economy; impact of regional or global conflicts; general market performance including capital market conditions and availability and cost of credit; performance of the markets that ATS serves; industry challenges in securing the supply of labour, materials, and, in certain jurisdictions, energy sources such as natural gas, impact of inflation; foreign currency and exchange risk; the relative strength of the Canadian dollar; impact of factors such as increased pricing pressure, increased cost of energy and supplies, and delays in relation thereto, and possible margin compression; the regulatory and tax environment; that closing is delayed or prohibited as a result of the inability to complete closing conditions; the expectations related to positioning and strengthening of PA in the automation and digitalization markets, or in relation to the digitalization of PA and its business, are not realized as expected, or within the expected timeframe or at all; performance of the market sectors that PA and ZIA serve, and other risks and uncertainties detailed from time to time in ATS' filings with securities regulators, including, without limitation, the risk factors described in ATS' annual information form for the fiscal year ended
Forward-looking statements are necessarily based on a number of estimates, factors and assumptions regarding, among others, management's current plans, estimates, projections, beliefs and opinions, the future performance and results of the Company's business and operations; and general economic conditions and global events, including the COVID-19 pandemic.
Forward-looking statements included in this news release are only provided to understand management's current expectations relating to future periods and, as such, are not appropriate for any other purpose. Although ATS believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and ATS cautions you not to place undue reliance upon any such forward-looking statements, which speak only as of the date they are made. ATS does not undertake any obligation to update forward-looking statements contained herein other than as required by law.
SOURCE
© Canada Newswire, source