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CTS Awarded Production Program for Accelerator Pedal Modules with aMajor Japanese Automotive Manufacturer

^{Published on 2008-11-18 08:03:05, Last Modified on 2009-11-02 16:42:51 - Market Wire}
 

ELKHART, Ind.--([ BUSINESS WIRE ])--CTS Corporation (NYSE: CTS) today announced that CTS Automotive Products was awarded a production program for its Electronic Throttle Control (ETC) Accelerator Pedal Modules from a major Japanese automotive maker. The pedals will be used on a popular family vehicle sold in North America.

The pedals will be built in one of CTS' state-of-the-art facilities in North America, with the first deliveries starting early 2010. Total sales from these awards are expected to reach approximately $13 million over the five-year life of the program. This new pedal program represents an additional win from a key customer for a different vehicle platform and was made possible by CTS achieving quality and delivery goals on existing business from this distinguished OEM. This award will mark the third platform for CTS in North America from this customer.

This growth opportunity in North America results from the foundation of engineering excellence and close customer support. Even though the global automotive economy is uncertain, CTS is still expecting continued growth in its pedal products.

For more information on ETC Accelerator Pedal Modules, please contact Ken Kochanowski at (574) 389-2749.

About CTS Automotive Products

CTS Automotive Products is a global leader in the design, test and manufacture of automotive sensors, accelerator pedal modules, actuators and subsystems. Recognized for its customer responsiveness and expertise in high-volume automotive packaging, CTS Automotive Products is focused on delivering value-added products and services to its expanding worldwide customer base. The Company manufactures automotive and related products in Elkhart, Indiana; Toronto, Canada; Glasgow, Scotland; Ostrava, Czech Republic; Matamoros, Mexico; Kaohsiung, Taiwan; and Zhongshan, China.

About CTS

CTS is a leading designer and manufacturer of electronic components and sensors and a provider of electronics manufacturing services (EMS) to OEMs in the automotive, computer, communications, medical, defense and aerospace and industrial markets. CTS manufactures products in North America, Europe and Asia. CTS' stock is traded on the NYSE under the ticker symbol "CTS." To find out more, visit the CTS Web site at [ www.ctscorp.com ].

Safe Harbor Statement

This press release contains statements that are, or may be deemed to be, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, any financial or other guidance, statements that reflect our current expectations concerning future results and events, and any other statements that are not based solely on historical fact. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. These forward-looking statements are made subject to certain risks, uncertainties and other factors, which could cause our actual results, performance or achievements to differ materially from those presented in the forward-looking statements, including, without limitation, potential changes in the economy generally and in respect to the businesses in which CTS operates; rapid technological change in the automotive, communications and computer industries; reliance on key customers; CTS' ability to protect its intellectual property; pricing pressures and demand for CTS' products; and risks associated with CTS' international operations, including trade and tariff barriers, exchange rates and political and geopolitical risks. For more detailed information on the risks and uncertainties associated with CTS' business, see the reports CTS files with the SEC, available at [ http://www.ctscorp.com/investor_relations/investor.htm ]. CTS undertakes no obligation to publicly update its forward-looking statements to reflect new information or events or circumstances that arise after the date hereof, including market or industry changes.