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ATS Automation Tooling Systems Inc.

May 2010
ATS Automation Tooling Systems Inc. of Cambridge, Ontario, Canada, has entered into a definitive agreement to purchase the Sortimat Group of Stuttgart, Germany, a manufacturer of specialized assembly systems for medical products and pharmaceutical dosing devices. At closing, the former company made a payment of 738.4 million from existing cash balances. Future payments of up to 76.6 million are payable subject to the achievement of milestones related to financial performance and specific management services over the next two-and-a-half years. The acquisition is expected to be completed in the first quarter of fiscal 2011.

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