Automodular Announces Contract Award in the Renewable Energy Industry
(firmenpresse) - AJAX, ONTARIO -- (Marketwire) -- 01/05/12 -- Further to its press release of September 16, 2011 Automodular Corporation (TSX: AM) ("Automodular") reports that it has signed a definitive agreement with Vestas Nacelles A/S to sub-assemble certain wind turbine components for use in Ontario wind projects under the province of Ontario's feed-in-tariff (FIT) program. Vestas Nacelles A/S is a subsidiary of the publicly traded Danish company Vestas Wind Systems A/S, a global leader in the wind industry.
Automodular has secured a facility in Brantford, and, at the peak of the contract, will engage approximately 40 personnel in relation to the contracted work. Work is already underway on the contract which is for a fixed number of units to be assembled over an estimated period of one year. The contract would represent approximately 35% of the Company's gross revenues measured against the Company's gross revenues for the twelve-month period ended September 30, 2011. Approximately 80% of the Company's revenue under the contract relate to the purchase of materials as directed by the customer.
Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford's Oakville Assembly Plant and the renewable energy industry -Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 525 people.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Specific forward-looking statements in the document include those relating to the expected duration of the contract, the approximate gross revenues arising from the contract and the percentage of revenues relating to the purchase of materials. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions, and the fact that the contract relates to non-automotive assembly and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at . Readers are cautioned not to rely on forward-looking statements. Except as required under continuous disclosure obligations, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular does not provide financial outlooks.
Contacts:
Automodular Corporation
Christopher Nutt
President
(905) 619-4202
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 05.01.2012 - 16:52 Uhr
Sprache: Deutsch
News-ID 101520
Anzahl Zeichen: 3749
contact information:
Town:
AJAX, ONTARIO
Kategorie:
Parts and Accessories
Diese Pressemitteilung wurde bisher 240 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Automodular Announces Contract Award in the Renewable Energy Industry"
steht unter der journalistisch-redaktionellen Verantwortung von
Automodular Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
