ATS completes sale of precision metals business (January 06, 2006)
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Cambridge, Ont.-based ATS Automation Tooling Systems Inc. has completed the sale of its precision metals business t...
Cambridge, Ont.-based ATS Automation Tooling Systems Inc. has completed the sale of its precision metals business to Autocam Corporation in Kentwood, Mich.
The precision metals business employed about 200 people at a facility in Kitchener, Ont.
As part of the agreement, ATS will lease the land and building associated with this business from Autocam.
ATS has treated its precision metals division as a discontinued operation ever since it announced its intention to divest the business.
“This sale further streamlines our Precision Components Group (PCG) and supports our broader strategy of focusing PCG on sub-assembly activities where it has key competitive advantages,” said Ron Jutras, ATS president and CEO in a statement.