Solar in Canada

[Tackler]

Globe/DJ say ATS not a jolly good stock for Creststreet

2007-12-14 04:53 MT - In the News

The Globe and Mail reports in its Friday, Dec. 14, edition that Creststreet Alternative Energy Fund manager Steve Martin likes the solar energy industry. A Dow Jones dispatch to The Globe reports that Mr. Martin, however, sold his holdings in ATS Automation Tooling Systems. He sold the stock last month after the company continued its recent trend of disappointing results. The company is in a "show-me state," given its recent history of underperforming investors' expectations, says Mr. Martin. Creststreet's solar power exposure includes ARISE Technology, Day4 Energy, Timminco and Opel International. Each of these companies is focused on bringing down the costs of producing solar power and/or making the panels run more efficiently, says Mr. Martin. He believes solar power development is in an "accelerated growth phase." He says the cost to produce this power continues to fall. ATS Automation Tooling stock retreated 15 cents to close on the Toronto Stock Exchange Thursday at $4. The stock has a one-year trading range of $3.71 to $12.98. An unbylined Globe item was bullish on ATS's outlook on Nov. 30 when it was trading at $4.32. Goodwood Funds said investors could be richly rewarded.