Time and space assembly line balancing considers realistic multiobjective versions of the classical assembly line balancing industrial problems, involving the joint optimization of conflicting criteria such as the cycle time, the number of stations, and/or the area of these stations. The aim of this contribution is to present a new multiobjective memetic algorithm based on ant colony optimization for the 1/3 variant of this family of industrial problems. This variant involves the joint minimisation of the number and the area of the stations, given a fixed cycle time limit. The good behaviour of the proposal is shown in nine problem instances.