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Electronics Production | July 01, 2010

ATS discontinues discussions on Rohwedder acquisition

ATS Automation Tooling Systems has withdrawn from acquisition discussions relating to its non-binding indicative offer to the insolvency administrator of Rohwedder AG.

Canada-based ATS "is continuing to review a number of opportunities. The completion and timing of any transaction resulting from such review is dependent on a number of factors, including: completion of satisfactory evaluations and due diligence, negotiation of agreements and requisite board and other approvals. There can be no assurance that any such transaction or transactions will be completed".
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