ATS Automation Tooling Systems Inc.
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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