The sale of its struggling module manufacturing subsidiary has failed, according to ATS Automation Tooling Systems, due in part to the weak PV market in France and across Europe. Talks with potential buyers, failed to reach an “acceptable transaction,” according to a statement from the company. Its Photowatt Ontario operations were also up for sale but the conclusion of talks brings into question the “viability of the spinoff alternative.”
ATS Automation said that it still expects to complete a separation without materially impacting growth plans for its core automation business.