AJAX, ONTARIO--(Marketwire - June 22, 2012) - On Thursday, Automodular Corporation ("Automodular" or the "Company") (TSX:AM) celebrated the official opening of its new assembly facility dedicated to the renewable energy industry.
The facility will service the Company's 2012 agreement with Vestas Nacelles A/S ("Vestas") to sub-assemble certain wind turbine components. Vestas is a subsidiary of the publicly-traded Danish company Vestas Wind Systems A/S, a global leader in the wind industry.
On hand to assist with the ribbon-cutting was MPP David Levac and Brantford Mayor Chris Friel, as well as other Brantford Councilors.
"We hope that this contract will serve as a platform for further assembly work in the renewable energy sector," said Automodular's President & CEO, Chris Nutt.
At the peak of the contract, the facility will employ about 40 personnel. The work undertaken at the facility will help Vestas meet the Domestic Content Requirements under Ontario's Feed-in Tariff Program.
Automodular Corporation is a supplier of sub-assembly, sequencing and transportation services to the automotive industry - Ford Motor Company's Oakville Assembly Plant - and the renewable energy industry - Vestas Nacelles A/S. The Company has three operating facilities and employs approximately 535 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 any expectation by Automodular that the Brantford contract could be a platform for further assembly work in the renewable energy sector. 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 risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities and on SEDAR at www.sedar.com. 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.