Solar order
ATS basks in $31-million solar module order
ATS Automation Tooling Systems Inc ATA
Shares issued 60,481,691 Mar 18 close $9.25
Wed 19 Mar 2003 News Release
Mr. Ron Jutras reports
ATS PHOTOWATT SUBSIDIARY WINS MAJOR ORDER FOR SOLAR MODULES WITH ESTIMATED
VALUE OF $31 MILLION
ATS Automation Tooling Systems' Photowatt subsidiary has been awarded a
major contract for the supply of photovoltaic solar modules over the next
12 months with an estimated value of $31.1-million.
The solar modules will be manufactured and sold by the company's Photowatt
International S.A. subsidiary located in Bourgoin-Jallieu, France -- just
outside of Lyon -- over the next 12 months. The customer is a leading
international solar systems supplier and installer. Shipments will commence
later this month and are expected to be made monthly thereafter through the
balance of the contract term. Shipment dates are subject to renegotiation
under certain circumstances.
"This is an attractive and large contract for Photowatt, which
significantly firms up a major portion of our solar revenue targets for
fiscal 2004," said Klaus Woerner, president and chief executive officer of
ATS. "Of equal importance, this is a new customer for Photowatt, one which
is a world leader in PV solar systems, and there is potential for further
revenues through contract options and extensions into 2004. This contract
was won in a competitive environment and confirms the world-class quality
of our products and our production efficiencies gained as a result of the
investments ATS has made in automating Photowatt since we acquired it in
1997."
ATS, the leader in industrial automation, has made a significant commitment
to manufacturing solar energy cells and modules, first through its
Photowatt operations and more recently through Spheral Solar Power, which
will launch its first products -- based on revolutionary next-generation
solar technology -- later this year.
In the trailing 12 months to Dec. 31, 2002, Photowatt produced revenue of
$53.9-million. ATS has increased the annual capacity of Photowatt, from
approximately four megawatts at acquisition, to an estimated 25 megawatts
of global module manufacturing capacity today. This has been achieved
through improved manufacturing throughput and efficiency and by increasing
the power-generating efficiency of the company's solar cells. During the
past 12 months, Photowatt has been rapidly increasing its module
manufacturing capacity to better match its solar cell output with the
changing requirements of customers. This contract is expected to be
fulfilled with the existing and previously planned investments for
Photowatt.
The contract is for the supply of Photowatt's largest power modules, model
PW 1650. The PW 1650 series modules use Photowatt's multicrystalline
technology. The solar cells are individually characterized and
electronically matched prior to interconnection. Encapsulation beneath
high-transmission tempered glass is accomplished using an advanced,
ultraviolet-resistant thermal setting plastic. The encapsulation, ethylene
vinyl acetate, cushions the operating characteristics of the solar cell
under virtually any climatic conditions. The rear surface of the module is
completely sealed from moisture and mechanical damage by a continuous
high-strength polymer sheet. The glass/tedlar construction of the module
minimizes weight, while providing a durable, protective environment for the
solar cells. The product is configured for 12 to 24 volt systems operation
and bypass diodes are factory fitted as standard. The module is 42.3 inches
wide by 48.3 inches in length, is 1.7 inches thick and weighs approximately
40 pounds. Peak power is 155 watts to 175 watts at 4.8 amps to 10.0 amps
depending on series number.
WARNING: The company relies upon litigation protection for
"forward-looking" statements.
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