Tesla Inc has agreed to acquire German ATW Automation, a supplier assembling battery modules and packs for the auto industry, a source familiar with the transaction said on Friday.
ATW, a subsidiary of Canadian ATS Automation Tooling Systems Inc , was on the brink of liquidation due to a slump in orders, German media reported in September.ATS on Sept. 25 announced that certain assets and employees at one of its Germany-based units would be sold and transferred to a third party, without disclosing the name of the company.
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